WTI CRUDE OIL - 15 min. - Technical analysis published on 05/20/2022 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 107.76 USD
My targets
112.29 USD (+1.78%)
114.68 USD (+3.95%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 107.76 USD, you could try to benefit from the boom. The first bullish objective is located at 112.29 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 114.68 USD as an objective. Crossing it would then enable buyers to target 119.21 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
8.8
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 110.32 USD. The price has increased by +0.39% since the last closing and was between 108.13 USD and 110.99 USD. This implies that the price is at +2.03% from its lowest and at -0.60% from its highest.108.13
110.99
110.32
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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 strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 15 minutes
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 103.99 | 106.06 | 108.38 | 110.32 | 112.00 | 119.11 | 128.16 |
| Change (%) | -5.74% | -3.86% | -1.76% | - | +1.52% | +7.97% | +16.17% |
| Change | -6.33 | -4.26 | -1.94 | - | +1.68 | +8.79 | +17.84 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 98.45 | 100.84 | 105.37 | 107.76 | 112.29 | 114.68 | 119.21 |
| Camarilla | 107.99 | 108.62 | 109.26 | 109.89 | 110.52 | 111.16 | 111.79 |
| Woodie | 99.51 | 101.38 | 106.43 | 108.30 | 113.35 | 115.22 | 120.27 |
| Fibonacci | 100.84 | 103.49 | 105.12 | 107.76 | 110.41 | 112.04 | 114.68 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 87.45 | 91.64 | 99.89 | 104.08 | 112.33 | 116.52 | 124.77 |
| Camarilla | 104.71 | 105.85 | 106.99 | 108.13 | 109.27 | 110.41 | 111.55 |
| Woodie | 89.47 | 92.66 | 101.91 | 105.10 | 114.35 | 117.54 | 126.79 |
| Fibonacci | 91.64 | 96.40 | 99.33 | 104.08 | 108.84 | 111.77 | 116.52 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.74 | 82.87 | 92.60 | 99.73 | 109.46 | 116.59 | 126.32 |
| Camarilla | 97.69 | 99.24 | 100.79 | 102.33 | 103.88 | 105.42 | 106.97 |
| Woodie | 77.04 | 83.52 | 93.90 | 100.38 | 110.76 | 117.24 | 127.62 |
| Fibonacci | 82.87 | 89.31 | 93.29 | 99.73 | 106.17 | 110.15 | 116.59 |
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): | 55.61 | |
| MACD (12,26,9): | 0.2000 | |
| Directional Movement: | 9.14 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 110.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 109.12 | |
| Elder Ray (13): | 0.37 | |
| Super Trend (3,10): | 109.12 | |
| Zig ZAG (10): | 110.30 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 75.00 | |
| TEMA (21): | 110.25 | |
| Williams %R (14): | -28.27 | |
| Chande Momentum Oscillator (20): | 0.32 | |
| Repulse (5,40,3): | 0.4700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.51 |
| MA7: | 108.77 | |
| MA20: | 104.24 | |
| MA50: | 101.98 | |
| MA100: | 93.60 | |
| MAexp7: | 110.22 | |
| MAexp20: | 109.89 | |
| MAexp50: | 109.50 | |
| MAexp100: | 109.08 | |
| Price / MA7: | +1.43% | |
| Price / MA20: | +5.83% | |
| Price / MA50: | +8.18% | |
| Price / MA100: | +17.86% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.39% | |
| Price / MAexp50: | +0.75% | |
| Price / MAexp100: | +1.14% |
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 and USD/CAD Forecast May 20, 2022
-
Technical Analysis: 19/05/2022 - WTI futures retreat to mid-Bollinger band, tad below 105 mark
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WTI Crude Oil and USD/CAD Forecast May 19, 2022
-
WTI Crude Oil Forecast May 18, 2022
-
WTI Crude Oil and USD/CAD Forecast May 17, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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