WTI CRUDE OIL - 1H - Technical analysis published on 10/06/2022 (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
28%
22%
50%
My opinion
Bullish above 86.98 USD
My targets
88.02 USD (+0.33%)
89.56 USD (+2.09%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 86.98 USD. The buyers' bullish objective is set at 88.02 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 89.56 USD. If there is any crossing, the next objective would be the resistance located at 100.57 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.2
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This analysis was given by ammour. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 87.73 USD. The price registered a decrease of -0.03% on the session and was traded between 87.37 USD and 88.66 USD over the period. The price is currently at +0.41% from its lowest and -1.05% from its highest.87.37
88.66
87.73
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
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 scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 5 are bullish, 9 are neutral and 4 are bearish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 80.32 | 82.84 | 86.98 | 87.73 | 88.02 | 100.57 | 106.48 |
| Change (%) | -8.45% | -5.57% | -0.85% | - | +0.33% | +14.64% | +21.37% |
| Change | -7.41 | -4.89 | -0.75 | - | +0.29 | +12.84 | +18.75 |
| Level | Intermediate | Major | Minor | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.98 | 84.20 | 85.98 | 87.20 | 88.98 | 90.20 | 91.98 |
| Camarilla | 86.94 | 87.21 | 87.49 | 87.76 | 88.04 | 88.31 | 88.59 |
| Woodie | 83.26 | 84.34 | 86.26 | 87.34 | 89.26 | 90.34 | 92.26 |
| Fibonacci | 84.20 | 85.35 | 86.05 | 87.20 | 88.35 | 89.05 | 90.20 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.49 | 72.87 | 76.18 | 79.56 | 82.87 | 86.25 | 89.56 |
| Camarilla | 77.65 | 78.26 | 78.88 | 79.49 | 80.10 | 80.72 | 81.33 |
| Woodie | 69.46 | 72.85 | 76.15 | 79.54 | 82.84 | 86.23 | 89.53 |
| Fibonacci | 72.87 | 75.43 | 77.00 | 79.56 | 82.12 | 83.69 | 86.25 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.09 | 68.17 | 73.83 | 81.91 | 87.57 | 95.65 | 101.31 |
| Camarilla | 75.71 | 76.97 | 78.23 | 79.49 | 80.75 | 82.01 | 83.27 |
| Woodie | 58.88 | 67.57 | 72.62 | 81.31 | 86.36 | 95.05 | 100.10 |
| Fibonacci | 68.17 | 73.42 | 76.66 | 81.91 | 87.16 | 90.40 | 95.65 |
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): | 56.53 | |
| MACD (12,26,9): | 0.3700 | |
| Directional Movement: | 10.40 | |
| AROON (14): | 7.15 | |
| DEMA (21): | 88.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 86.30 | |
| Elder Ray (13): | 0.10 | |
| Super Trend (3,10): | 86.37 | |
| Zig ZAG (10): | 87.91 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 52.08 | |
| TEMA (21): | 88.02 | |
| Williams %R (14): | -56.59 | |
| Chande Momentum Oscillator (20): | -0.09 | |
| Repulse (5,40,3): | -0.1200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0800 | |
| Courbe Coppock: | 0.32 |
| MA7: | 84.09 | |
| MA20: | 83.82 | |
| MA50: | 87.52 | |
| MA100: | 95.74 | |
| MAexp7: | 87.87 | |
| MAexp20: | 87.65 | |
| MAexp50: | 86.59 | |
| MAexp100: | 85.09 | |
| Price / MA7: | +4.33% | |
| Price / MA20: | +4.66% | |
| Price / MA50: | +0.24% | |
| Price / MA100: | -8.37% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +1.33% | |
| Price / MAexp100: | +3.11% |
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 October 5, 2022
-
WTI Crude Oil Forecast September 30, 2022
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Technical Analysis: 29/09/2022 - WTI oil futures bounce-off 8-month low, downtrend intact
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WTI Crude Oil Forecast September 29, 2022
-
WTI Crude Oil Forecast September 28, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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