WTI CRUDE OIL - 1H - Technical analysis published on 01/04/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 75.38 USD
My targets
77.44 USD (+1.40%)
78.81 USD (+3.19%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 75.38 USD. The next resistance located at 77.44 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 78.81 USD. After this resistance, buyers could then target 84.65 USD.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 76.37 USD. The price has increased by +0.38% since the last closing and was between 75.70 USD and 76.58 USD. This implies that the price is at +0.89% from its lowest and at -0.27% from its highest.75.70
76.58
76.37
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 72.57 | 73.81 | 75.38 | 76.37 | 76.38 | 77.44 | 78.81 |
| Change (%) | -4.98% | -3.35% | -1.30% | - | +0.01% | +1.40% | +3.19% |
| Change | -3.80 | -2.56 | -0.99 | - | +0.01 | +1.07 | +2.44 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.56 | 73.41 | 74.75 | 75.60 | 76.94 | 77.79 | 79.13 |
| Camarilla | 75.48 | 75.68 | 75.88 | 76.08 | 76.28 | 76.48 | 76.68 |
| Woodie | 72.80 | 73.53 | 74.99 | 75.72 | 77.18 | 77.91 | 79.37 |
| Fibonacci | 73.41 | 74.25 | 74.77 | 75.60 | 76.44 | 76.96 | 77.79 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.84 | 70.20 | 72.71 | 75.07 | 77.58 | 79.94 | 82.45 |
| Camarilla | 73.87 | 74.32 | 74.76 | 75.21 | 75.66 | 76.10 | 76.55 |
| Woodie | 67.91 | 70.24 | 72.78 | 75.11 | 77.65 | 79.98 | 82.52 |
| Fibonacci | 70.20 | 72.06 | 73.21 | 75.07 | 76.93 | 78.08 | 79.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 50.94 | 56.68 | 65.95 | 71.69 | 80.96 | 86.70 | 95.97 |
| Camarilla | 71.08 | 72.46 | 73.83 | 75.21 | 76.59 | 77.96 | 79.34 |
| Woodie | 52.70 | 57.56 | 67.71 | 72.57 | 82.72 | 87.58 | 97.73 |
| Fibonacci | 56.68 | 62.42 | 65.96 | 71.69 | 77.43 | 80.97 | 86.70 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.03 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | 2.02 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 76.17 | |
| Parabolic SAR (0,02-0,02-0,2): | 75.06 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 75.24 | |
| Zig ZAG (10): | 76.36 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 57.01 | |
| TEMA (21): | 76.28 | |
| Williams %R (14): | -28.41 | |
| Chande Momentum Oscillator (20): | 0.20 | |
| Repulse (5,40,3): | 0.3100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 1.01 |
| MA7: | 76.10 | |
| MA20: | 73.11 | |
| MA50: | 75.85 | |
| MA100: | 74.66 | |
| MAexp7: | 76.18 | |
| MAexp20: | 76.06 | |
| MAexp50: | 76.02 | |
| MAexp100: | 75.79 | |
| Price / MA7: | +0.35% | |
| Price / MA20: | +4.46% | |
| Price / MA50: | +0.69% | |
| Price / MA100: | +2.29% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | +0.46% | |
| Price / MAexp100: | +0.77% |
Quotes :
-
10 min delayed data
-
NYMEX Futures
News
The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:
-
WTI Crude Oil and Natural Gas Forecast January 4, 2022
-
WTI Crude Oil Forecast January 3, 2022
-
WTI Crude Oil and USD/CAD Forecast December 31, 2021
-
WTI Crude Oil and Natural Gas Forecast December 30, 2021
-
WTI Crude Oil Forecast December 29, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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