WTI CRUDE OIL - 15 min. - Technical analysis published on 07/07/2022 (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 bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 99.52 USD
My targets
103.98 USD (+1.00%)
105.63 USD (+2.60%)
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 99.52 USD. The next resistance located at 103.98 USD is the next bullish objective 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 105.63 USD. After this resistance, buyers could then target 109.12 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. 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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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 102.95 USD. On the day, this instrument gained +4.49% and was between 96.57 USD and 103.21 USD. This implies that the price is at +6.61% from its lowest and at -0.25% from its highest.96.57
103.21
102.95
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : 15 minutes
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 95.92 | 97.43 | 98.93 | 102.95 | 104.58 | 107.26 | 110.47 |
| Change (%) | -6.83% | -5.36% | -3.90% | - | +1.58% | +4.19% | +7.30% |
| Change | -7.03 | -5.52 | -4.02 | - | +1.63 | +4.31 | +7.52 |
| Level | Intermediate | Minor | Minor | - | 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 | 88.00 | 91.55 | 95.04 | 98.59 | 102.08 | 105.63 | 109.12 |
| Camarilla | 96.59 | 97.24 | 97.89 | 98.53 | 99.18 | 99.82 | 100.47 |
| Woodie | 87.97 | 91.54 | 95.01 | 98.58 | 102.05 | 105.62 | 109.09 |
| Fibonacci | 91.55 | 94.24 | 95.90 | 98.59 | 101.28 | 102.94 | 105.63 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 77.03 | |
| MACD (12,26,9): | 0.4900 | |
| Directional Movement: | 23.10 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 100.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 99.35 | |
| Elder Ray (13): | 1.60 | |
| Super Trend (3,10): | 99.81 | |
| Zig ZAG (10): | 102.37 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 88.79 | |
| TEMA (21): | 100.85 | |
| Williams %R (14): | -0.80 | |
| Chande Momentum Oscillator (20): | 3.19 | |
| Repulse (5,40,3): | 3.3000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 2.74 |
| MA7: | 105.06 | |
| MA20: | 109.37 | |
| MA50: | 109.07 | |
| MA100: | 103.51 | |
| MAexp7: | 100.78 | |
| MAexp20: | 99.74 | |
| MAexp50: | 99.21 | |
| MAexp100: | 99.36 | |
| Price / MA7: | -2.01% | |
| Price / MA20: | -5.87% | |
| Price / MA50: | -5.61% | |
| Price / MA100: | -0.54% | |
| Price / MAexp7: | +2.15% | |
| Price / MAexp20: | +3.22% | |
| Price / MAexp50: | +3.77% | |
| Price / MAexp100: | +3.61% |
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:
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Technical Analysis: 07/07/2022 - WTI oil futures signal continuation of brutal selloff
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WTI Crude Oil and CAD/JPY Forecast July 7, 2022
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WTI Crude Oil and USD/CAD Forecast July 6, 2022
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WTI Crude Oil Forecast July 5, 2022
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WTI Crude Oil Forecast July 4, 2022 | DailyForex
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