WTI CRUDE OIL - 1H - Technical analysis published on 07/29/2022 (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:
Bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 96.52 USD
My targets
97.95 USD (+0.41%)
98.99 USD (+1.48%)
My analysis
The basic bullish trend is very strong on WTI CRUDE OIL but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 96.52 USD. Crossing the first resistance at 97.95 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 98.99 USD as an objective. Crossing it would then enable buyers to target 99.83 USD. Caution, a return to below 96.52 USD would be a sign of a consolidation phase in the short-term basic trend. 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.
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
6.8
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This analysis was given by vishr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 97.55 USD. On the day, this instrument gained +1.17% and was traded between 96.41 USD and 97.78 USD over the period. The price is currently at +1.18% from its lowest and -0.24% from its highest.96.41
97.78
97.55
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this WTI CRUDE OIL chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 | 94.28 | 95.34 | 96.52 | 97.55 | 97.95 | 98.99 | 99.83 |
| Change (%) | -3.35% | -2.27% | -1.06% | - | +0.41% | +1.48% | +2.34% |
| Change | -3.27 | -2.21 | -1.03 | - | +0.40 | +1.44 | +2.28 |
| Level | Major | Minor | Minor | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 91.23 | 93.63 | 95.03 | 97.43 | 98.83 | 101.23 | 102.63 |
| Camarilla | 95.38 | 95.72 | 96.07 | 96.42 | 96.77 | 97.12 | 97.47 |
| Woodie | 90.72 | 93.38 | 94.52 | 97.18 | 98.32 | 100.98 | 102.12 |
| Fibonacci | 93.63 | 95.09 | 95.98 | 97.43 | 98.89 | 99.78 | 101.23 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.85 | 87.73 | 91.22 | 96.10 | 99.59 | 104.47 | 107.96 |
| Camarilla | 92.40 | 93.17 | 93.93 | 94.70 | 95.47 | 96.24 | 97.00 |
| Woodie | 82.15 | 87.38 | 90.52 | 95.75 | 98.89 | 104.12 | 107.26 |
| Fibonacci | 87.73 | 90.93 | 92.91 | 96.10 | 99.30 | 101.28 | 104.47 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.34 | 86.82 | 96.01 | 107.49 | 116.68 | 128.16 | 137.35 |
| Camarilla | 99.52 | 101.41 | 103.31 | 105.20 | 107.10 | 108.99 | 110.88 |
| Woodie | 74.20 | 86.25 | 94.87 | 106.92 | 115.54 | 127.59 | 136.21 |
| Fibonacci | 86.82 | 94.72 | 99.59 | 107.49 | 115.39 | 120.26 | 128.16 |
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): | 51.53 | |
| MACD (12,26,9): | -0.1800 | |
| Directional Movement: | -2.39 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 97.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 96.04 | |
| Elder Ray (13): | 0.20 | |
| Super Trend (3,10): | 98.57 | |
| Zig ZAG (10): | 97.56 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 57.53 | |
| TEMA (21): | 96.88 | |
| Williams %R (14): | -14.94 | |
| Chande Momentum Oscillator (20): | 0.46 | |
| Repulse (5,40,3): | 0.8000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 1.31 |
| MA7: | 96.27 | |
| MA20: | 97.37 | |
| MA50: | 104.59 | |
| MA100: | 100.93 | |
| MAexp7: | 97.15 | |
| MAexp20: | 97.35 | |
| MAexp50: | 97.33 | |
| MAexp100: | 97.07 | |
| Price / MA7: | +1.33% | |
| Price / MA20: | +0.18% | |
| Price / MA50: | -6.73% | |
| Price / MA100: | -3.35% | |
| Price / MAexp7: | +0.41% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.23% | |
| Price / MAexp100: | +0.49% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
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Technical Analysis: 28/07/2022 - WTI futures extend sideways move
-
WTI Crude Oil Forecast July 28, 2022
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WTI Crude Oil Forecast July 25, 2022
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WTI Crude Oil Forecast July 22, 2022
-
WTI Crude Oil Forecast July 21, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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