WTI CRUDE OIL - 1H - Technical analysis published on 07/15/2022 (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:
Neutral
Technical indicators
78%
0%
22%
My opinion
Bullish above 95.15 USD
My targets
98.50 USD (+1.02%)
101.57 USD (+4.16%)
My analysis
The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for WTI CRUDE OIL as long as the price remains well above 95.15 USD. The buyers' bullish objective is set at 98.50 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 101.57 USD. If there is any crossing, the next objective would be the resistance located at 104.58 USD.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
3.9
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Additional analysis
Quotes
WTI CRUDE OIL rating 97.51 USD. The price has increased by +1.81% since the last closing and was between 94.57 USD and 98.08 USD. This implies that the price is at +3.11% from its lowest and at -0.58% from its highest.94.57
98.08
97.51
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 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 not clearly defined. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bearish signals that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 76.05 | 89.88 | 95.15 | 97.51 | 98.50 | 101.57 | 104.58 |
| Change (%) | -22.01% | -7.82% | -2.42% | - | +1.02% | +4.16% | +7.25% |
| Change | -21.46 | -7.63 | -2.36 | - | +0.99 | +4.06 | +7.07 |
| Level | Major | Major | Intermediate | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 85.45 | 88.01 | 91.89 | 94.45 | 98.33 | 100.89 | 104.77 |
| Camarilla | 94.01 | 94.60 | 95.19 | 95.78 | 96.37 | 96.96 | 97.55 |
| Woodie | 86.12 | 88.34 | 92.56 | 94.78 | 99.00 | 101.22 | 105.44 |
| Fibonacci | 88.01 | 90.47 | 91.99 | 94.45 | 96.91 | 98.43 | 100.89 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.76 | 87.43 | 96.11 | 103.78 | 112.46 | 120.13 | 128.81 |
| Camarilla | 100.29 | 101.79 | 103.29 | 104.79 | 106.29 | 107.79 | 109.29 |
| Woodie | 80.27 | 87.68 | 96.62 | 104.03 | 112.97 | 120.38 | 129.32 |
| Fibonacci | 87.43 | 93.68 | 97.53 | 103.78 | 110.03 | 113.88 | 120.13 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.94 | |
| MACD (12,26,9): | 0.2800 | |
| Directional Movement: | 5.04 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 96.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 94.92 | |
| Elder Ray (13): | 1.08 | |
| Super Trend (3,10): | 94.24 | |
| Zig ZAG (10): | 97.17 | |
| VORTEX (21): | 1.3100 | |
| Stochastique (14,3,5): | 72.08 | |
| TEMA (21): | 96.85 | |
| Williams %R (14): | -25.64 | |
| Chande Momentum Oscillator (20): | 0.53 | |
| Repulse (5,40,3): | 0.7600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 1.61 |
| MA7: | 99.52 | |
| MA20: | 104.36 | |
| MA50: | 108.65 | |
| MA100: | 104.31 | |
| MAexp7: | 96.54 | |
| MAexp20: | 96.12 | |
| MAexp50: | 96.31 | |
| MAexp100: | 97.68 | |
| Price / MA7: | -2.02% | |
| Price / MA20: | -6.56% | |
| Price / MA50: | -10.25% | |
| Price / MA100: | -6.52% | |
| Price / MAexp7: | +1.00% | |
| Price / MAexp20: | +1.45% | |
| Price / MAexp50: | +1.25% | |
| Price / MAexp100: | -0.17% |
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 Forecast July 15, 2022
-
Technical Analysis: 14/07/2022 - WTI futures fail to boost selling interest below 200-day SMA
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WTI Crude Oil and USD/CAD Forecast July 14, 2022
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WTI Crude Oil Forecast July 13, 2022
-
WTI Crude Oil and USD/CAD Forecast July 12, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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