WTI CRUDE OIL - 15 min. - Technical analysis published on 03/21/2024 (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 bearish
Underlying:
Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 81.58 USD
My targets
80.52 USD (-0.42%)
79.76 USD (-1.36%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 81.58 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 80.52 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 79.76 USD as an objective. Crossing it would then enable sellers to target 78.70 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
8
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Additional analysis
Quotes
The WTI CRUDE OIL price is 80.86 USD. The price is lower by -0.50% since the last closing and was between 80.68 USD and 81.92 USD. This implies that the price is at +0.22% from its lowest and at -1.29% from its highest.80.68
81.92
80.86
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 15 minutes
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 78.14 | 79.69 | 80.84 | 80.86 | 81.81 | 83.12 | 84.16 |
Change (%) | -3.36% | -1.45% | -0.02% | - | +1.17% | +2.79% | +4.08% |
Change | -2.72 | -1.17 | -0.02 | - | +0.95 | +2.26 | +3.30 |
Level | Minor | Intermediate | Major | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 78.70 | 79.76 | 80.52 | 81.58 | 82.34 | 83.40 | 84.16 |
Camarilla | 80.77 | 80.94 | 81.10 | 81.27 | 81.44 | 81.60 | 81.77 |
Woodie | 78.54 | 79.69 | 80.36 | 81.51 | 82.18 | 83.33 | 84.00 |
Fibonacci | 79.76 | 80.46 | 80.89 | 81.58 | 82.28 | 82.71 | 83.40 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 72.60 | 74.41 | 77.43 | 79.24 | 82.26 | 84.07 | 87.09 |
Camarilla | 79.13 | 79.58 | 80.02 | 80.46 | 80.90 | 81.35 | 81.79 |
Woodie | 73.22 | 74.71 | 78.05 | 79.54 | 82.88 | 84.37 | 87.71 |
Fibonacci | 74.41 | 76.25 | 77.39 | 79.24 | 81.08 | 82.22 | 84.07 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 62.32 | 66.08 | 72.74 | 76.50 | 83.16 | 86.92 | 93.58 |
Camarilla | 76.53 | 77.48 | 78.44 | 79.39 | 80.35 | 81.30 | 82.26 |
Woodie | 63.76 | 66.81 | 74.18 | 77.23 | 84.60 | 87.65 | 95.02 |
Fibonacci | 66.08 | 70.06 | 72.52 | 76.50 | 80.48 | 82.94 | 86.92 |
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): | 26.63 | |
MACD (12,26,9): | -0.2100 | |
Directional Movement: | -28.04 | |
AROON (14): | -100.00 | |
DEMA (21): | 80.93 | |
Parabolic SAR (0,02-0,02-0,2): | 81.23 | |
Elder Ray (13): | -0.29 | |
Super Trend (3,10): | 81.28 | |
Zig ZAG (10): | 80.75 | |
VORTEX (21): | 0.7500 | |
Stochastique (14,3,5): | 5.63 | |
TEMA (21): | 80.79 | |
Williams %R (14): | -92.16 | |
Chande Momentum Oscillator (20): | -0.42 | |
Repulse (5,40,3): | -0.2300 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0300 | |
Courbe Coppock: | 1.51 |
MA7: | 81.04 | |
MA20: | 78.89 | |
MA50: | 76.02 | |
MA100: | 74.46 | |
MAexp7: | 80.92 | |
MAexp20: | 81.18 | |
MAexp50: | 81.41 | |
MAexp100: | 81.57 | |
Price / MA7: | -0.22% | |
Price / MA20: | +2.50% | |
Price / MA50: | +6.37% | |
Price / MA100: | +8.60% | |
Price / MAexp7: | -0.07% | |
Price / MAexp20: | -0.39% | |
Price / MAexp50: | -0.68% | |
Price / MAexp100: | -0.87% |
Quotes :
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10 min delayed data
-
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:
- Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
- Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
- Technical Analysis: 08/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
- Technical cheat sheet: The trader’s guide to Crude Oil WTI
- Technical Analysis: 29/02/2024 - WTI oil futures restricted in a bullish trend
This member declared not having a position on this financial instrument or a related financial instrument.
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