WTI CRUDE OIL - 1H - Technical analysis published on 07/05/2022 (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 bearish
Underlying:
Strongly bearish
Technical indicators
22%
72%
6%
My opinion
Bearish under 102.32 USD
My targets
99.52 USD (-2.12%)
94.49 USD (-7.07%)
My analysis
WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 102.32 USD. The next support located at 99.52 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 94.49 USD. Below this support, sellers could then target 89.88 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 101.68 USD. The price registered a decrease of -6.23% on the session with the lowest point at 101.66 USD and the highest point at 111.45 USD. The deviation from the price is +0.02% for the low point and -8.77% for the high point.101.66
111.45
101.68
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 4 are bullish, 1 are neutral and 13 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 20
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 61.87 | 75.47 | 89.88 | 101.68 | 102.32 | 104.58 | 107.28 |
| Change (%) | -39.15% | -25.78% | -11.61% | - | +0.63% | +2.85% | +5.51% |
| Change | -39.81 | -26.21 | -11.80 | - | +0.64 | +2.90 | +5.60 |
| Level | Major | Minor | Intermediate | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 103.34 | 105.30 | 106.86 | 108.82 | 110.38 | 112.34 | 113.90 |
| Camarilla | 107.46 | 107.79 | 108.11 | 108.43 | 108.75 | 109.08 | 109.40 |
| Woodie | 103.15 | 105.20 | 106.67 | 108.72 | 110.19 | 112.24 | 113.71 |
| Fibonacci | 105.30 | 106.64 | 107.47 | 108.82 | 110.16 | 110.99 | 112.34 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 94.49 | 99.52 | 103.98 | 109.01 | 113.47 | 118.50 | 122.96 |
| Camarilla | 105.82 | 106.69 | 107.56 | 108.43 | 109.30 | 110.17 | 111.04 |
| Woodie | 94.20 | 99.38 | 103.69 | 108.87 | 113.18 | 118.36 | 122.67 |
| Fibonacci | 99.52 | 103.15 | 105.39 | 109.01 | 112.64 | 114.88 | 118.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.57 | 90.05 | 99.24 | 110.72 | 119.91 | 131.39 | 140.58 |
| Camarilla | 102.75 | 104.64 | 106.54 | 108.43 | 110.33 | 112.22 | 114.11 |
| Woodie | 77.43 | 89.48 | 98.10 | 110.15 | 118.77 | 130.82 | 139.44 |
| Fibonacci | 90.05 | 97.95 | 102.82 | 110.72 | 118.62 | 123.49 | 131.39 |
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): | 18.36 | |
| MACD (12,26,9): | -1.0300 | |
| Directional Movement: | -35.11 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 107.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 109.96 | |
| Elder Ray (13): | -4.37 | |
| Super Trend (3,10): | 107.22 | |
| Zig ZAG (10): | 102.51 | |
| VORTEX (21): | 0.6400 | |
| Stochastique (14,3,5): | 7.31 | |
| TEMA (21): | 105.97 | |
| Williams %R (14): | -98.94 | |
| Chande Momentum Oscillator (20): | -8.07 | |
| Repulse (5,40,3): | -5.9400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 6.92 |
| MA7: | 107.99 | |
| MA20: | 111.36 | |
| MA50: | 109.05 | |
| MA100: | 103.21 | |
| MAexp7: | 106.11 | |
| MAexp20: | 108.18 | |
| MAexp50: | 108.64 | |
| MAexp100: | 108.70 | |
| Price / MA7: | -5.84% | |
| Price / MA20: | -8.69% | |
| Price / MA50: | -6.76% | |
| Price / MA100: | -1.48% | |
| Price / MAexp7: | -4.17% | |
| Price / MAexp20: | -6.01% | |
| Price / MAexp50: | -6.41% | |
| Price / MAexp100: | -6.46% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:
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WTI Crude Oil Forecast July 5, 2022
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WTI Crude Oil Forecast July 4, 2022 | DailyForex
-
WTI Crude Oil Forecast July 1, 2022
-
Technical Analysis: 30/06/2022 - WTI oil futures falter but still supported
-
WTI Crude Oil Forecast June 30, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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