WTI CRUDE OIL - 1H - Technical analysis published on 08/01/2022 (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
17%
56%
28%
My opinion
Bearish under 96.05 USD
My targets
92.60 USD (-1.56%)
88.97 USD (-5.42%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 96.05 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 92.60 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 88.97 USD as an objective. Crossing it would then enable sellers to target 86.65 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7
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This analysis was given by vishr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 94.07 USD. The price is lower by -4.61% since the last closing and was between 92.42 USD and 98.65 USD. This implies that the price is at +1.79% from its lowest and at -4.64% from its highest.92.42
98.65
94.07
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of WTI CRUDE OIL in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 72.53 | 86.65 | 92.60 | 94.07 | 94.28 | 96.05 | 97.94 |
| Change (%) | -22.90% | -7.89% | -1.56% | - | +0.22% | +2.10% | +4.11% |
| Change | -21.54 | -7.42 | -1.47 | - | +0.21 | +1.98 | +3.87 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | 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 | 85.21 | 88.82 | 91.44 | 95.05 | 97.67 | 101.28 | 103.90 |
| Camarilla | 92.36 | 92.93 | 93.50 | 94.07 | 94.64 | 95.21 | 95.78 |
| Woodie | 84.73 | 88.57 | 90.96 | 94.80 | 97.19 | 101.03 | 103.42 |
| Fibonacci | 88.82 | 91.20 | 92.67 | 95.05 | 97.43 | 98.90 | 101.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 84.92 | 88.97 | 93.79 | 97.84 | 102.66 | 106.71 | 111.53 |
| Camarilla | 96.18 | 96.99 | 97.81 | 98.62 | 99.43 | 100.25 | 101.06 |
| Woodie | 85.32 | 89.16 | 94.19 | 98.03 | 103.06 | 106.90 | 111.93 |
| Fibonacci | 88.97 | 92.36 | 94.45 | 97.84 | 101.23 | 103.32 | 106.71 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 34.67 | |
| MACD (12,26,9): | -1.1600 | |
| Directional Movement: | -16.78 | |
| AROON (14): | -42.85 | |
| DEMA (21): | 93.96 | |
| Parabolic SAR (0,02-0,02-0,2): | 94.16 | |
| Elder Ray (13): | -0.86 | |
| Super Trend (3,10): | 97.17 | |
| Zig ZAG (10): | 94.03 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 23.68 | |
| TEMA (21): | 93.20 | |
| Williams %R (14): | -73.71 | |
| Chande Momentum Oscillator (20): | -2.48 | |
| Repulse (5,40,3): | 0.0200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 7.31 |
| MA7: | 96.09 | |
| MA20: | 96.75 | |
| MA50: | 104.38 | |
| MA100: | 100.88 | |
| MAexp7: | 94.06 | |
| MAexp20: | 95.36 | |
| MAexp50: | 96.57 | |
| MAexp100: | 96.95 | |
| Price / MA7: | -2.10% | |
| Price / MA20: | -2.77% | |
| Price / MA50: | -9.88% | |
| Price / MA100: | -6.75% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -1.35% | |
| Price / MAexp50: | -2.59% | |
| Price / MAexp100: | -2.97% |
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:
-
Technical Analysis: 28/07/2022 - WTI futures extend sideways move
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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.
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