WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - 1H - Technical analysis published on 03/22/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

22%

17%

61%

My opinion

Bearish under 81.04 USD

My targets

80.31 USD (-0.40%)

79.69 USD (-1.17%)

My analysis

WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 81.04 USD. The next support located at 80.31 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 79.69 USD. Below this support, sellers could then target 78.14 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

4.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Ralhosni. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 80.63 USD. The price registered an increase of +0.00% on the session with the lowest point at 80.42 USD and the highest point at 81.45 USD. The deviation from the price is +0.26% for the low point and -1.01% for the high point.

80.42

81.45

80.63

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

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:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in 1H shows a overall strongly bearish trend. The signals given by moving averages are 82.14% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	78.14	79.69	80.31	80.63	81.04	81.92	82.51
Change (%)	-3.09%	-1.17%	-0.40%	-	+0.51%	+1.60%	+2.33%
Change	-2.49	-0.94	-0.32	-	+0.41	+1.29	+1.88
Level	Intermediate	Major	Major	-	Intermediate	Intermediate	Minor

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	78.65	79.48	80.27	81.10	81.89	82.72	83.51
Camarilla	80.63	80.77	80.92	81.07	81.22	81.37	81.52
Woodie	78.64	79.47	80.26	81.09	81.88	82.71	83.50
Fibonacci	79.48	80.10	80.48	81.10	81.72	82.10	82.72

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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	48.19
MACD (12,26,9):	-0.0600
Directional Movement:	-2.47
AROON (14):	50.00
DEMA (21):	80.74
Parabolic SAR (0,02-0,02-0,2):	81.29
Elder Ray (13):	0.03
Super Trend (3,10):	80.35
Zig ZAG (10):	80.82
VORTEX (21):	0.9800
Stochastique (14,3,5):	32.68
TEMA (21):	80.82
Williams %R (14):	-64.95
Chande Momentum Oscillator (20):	-0.27
Repulse (5,40,3):	0.0200
ROCnROLL:	-1
TRIX (15,9):	-0.0100
Courbe Coppock:	0.34

MA7:	81.31
MA20:	79.15
MA50:	76.22
MA100:	74.48
MAexp7:	80.80
MAexp20:	80.84
MAexp50:	81.04
MAexp100:	81.06
Price / MA7:	-0.84%
Price / MA20:	+1.87%
Price / MA50:	+5.79%
Price / MA100:	+8.26%
Price / MAexp7:	+0.02%
Price / MAexp20:	-0.02%
Price / MAexp50:	-0.27%
Price / MAexp100:	-0.30%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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