WTI CRUDE OIL - 15 min. - Technical analysis published on 05/18/2022 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
67%
6%
My opinion
Bearish under 111.82 USD
My targets
109.43 USD (-0.48%)
107.10 USD (-2.59%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 111.82 USD. The sellers' bearish objective is set at 109.43 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 107.10 USD. In case of crossing, the next objective would be the support located at 104.16 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7.3
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This analysis was given by Salama1012. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 109.95 USD. On the day, this instrument lost -2.18% with the lowest point at 109.44 USD and the highest point at 115.42 USD. The deviation from the price is +0.47% for the low point and -4.74% for the high point.109.44
115.42
109.95
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 1 are neutral and 12 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 99.76 | 104.16 | 108.42 | 109.95 | 111.18 | 114.36 | 121.47 |
| Change (%) | -9.27% | -5.27% | -1.39% | - | +1.12% | +4.01% | +10.48% |
| Change | -10.19 | -5.79 | -1.53 | - | +1.23 | +4.41 | +11.52 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 107.10 | 109.43 | 110.91 | 113.24 | 114.72 | 117.05 | 118.53 |
| Camarilla | 111.35 | 111.70 | 112.05 | 112.40 | 112.75 | 113.10 | 113.45 |
| Woodie | 106.69 | 109.22 | 110.50 | 113.03 | 114.31 | 116.84 | 118.12 |
| Fibonacci | 109.43 | 110.88 | 111.78 | 113.24 | 114.69 | 115.59 | 117.05 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 89.81 | 94.00 | 102.25 | 106.44 | 114.69 | 118.88 | 127.13 |
| Camarilla | 107.07 | 108.21 | 109.35 | 110.49 | 111.63 | 112.77 | 113.91 |
| Woodie | 91.83 | 95.02 | 104.27 | 107.46 | 116.71 | 119.90 | 129.15 |
| Fibonacci | 94.00 | 98.76 | 101.69 | 106.44 | 111.20 | 114.13 | 118.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.10 | 85.23 | 94.96 | 102.09 | 111.82 | 118.95 | 128.68 |
| Camarilla | 100.05 | 101.60 | 103.15 | 104.69 | 106.24 | 107.78 | 109.33 |
| Woodie | 79.40 | 85.88 | 96.26 | 102.74 | 113.12 | 119.60 | 129.98 |
| Fibonacci | 85.23 | 91.67 | 95.65 | 102.09 | 108.53 | 112.51 | 118.95 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 29.30 | |
| MACD (12,26,9): | -1.0400 | |
| Directional Movement: | -18.58 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 110.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 110.81 | |
| Elder Ray (13): | -0.88 | |
| Super Trend (3,10): | 112.48 | |
| Zig ZAG (10): | 110.27 | |
| VORTEX (21): | 0.7600 | |
| Stochastique (14,3,5): | 10.28 | |
| TEMA (21): | 109.73 | |
| Williams %R (14): | -79.75 | |
| Chande Momentum Oscillator (20): | -1.98 | |
| Repulse (5,40,3): | 0.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 6.31 |
| MA7: | 108.35 | |
| MA20: | 105.66 | |
| MA50: | 104.05 | |
| MA100: | 95.16 | |
| MAexp7: | 110.32 | |
| MAexp20: | 111.65 | |
| MAexp50: | 112.71 | |
| MAexp100: | 113.09 | |
| Price / MA7: | +1.48% | |
| Price / MA20: | +4.06% | |
| Price / MA50: | +5.67% | |
| Price / MA100: | +15.54% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | -1.52% | |
| Price / MAexp50: | -2.45% | |
| Price / MAexp100: | -2.78% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:
-
WTI Crude Oil Forecast May 18, 2022
-
WTI Crude Oil and USD/CAD Forecast May 17, 2022
-
WTI Crude Oil and USD/CAD Forecast May 16, 2022
-
WTI Crude Oil Forecast May 13, 2022
-
WTI Crude Oil and USD/CAD Forecast May 12, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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