WTI CRUDE OIL - 15 min. - Technical analysis published on 04/03/2024 (GMT)
- 100
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
56%
28%
My opinion
Bullish above 84.93 USD
My targets
86.01 USD (+1.02%)
86.58 USD (+1.69%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 84.93 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 84.93 USD. The next bullish objective for buyers is set at 86.01 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 86.58 USD. If there is any crossing, the next objective would be the resistance located at 87.66 USD. PS: if there is a bearish break in the support located at 84.93 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.3
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Additional analysis
Quotes
WTI CRUDE OIL rating 85.14 USD. On the day, this instrument lost -0.01% and was traded between 85.06 USD and 85.64 USD over the period. The price is currently at +0.09% from its lowest and -0.58% from its highest.85.06
85.64
85.14
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
A study of price movements over other periods shows the following variations:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 15 minutes
In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
MACD indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
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 | 81.43 | 82.73 | 84.15 | 85.14 | 85.46 | 87.19 | 90.79 |
| Change (%) | -4.36% | -2.83% | -1.16% | - | +0.38% | +2.41% | +6.64% |
| Change | -3.71 | -2.41 | -0.99 | - | +0.32 | +2.05 | +5.65 |
| Level | Minor | Major | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.71 | 83.28 | 84.36 | 84.93 | 86.01 | 86.58 | 87.66 |
| Camarilla | 84.99 | 85.14 | 85.29 | 85.44 | 85.59 | 85.74 | 85.89 |
| Woodie | 82.97 | 83.41 | 84.62 | 85.06 | 86.27 | 86.71 | 87.92 |
| Fibonacci | 83.28 | 83.91 | 84.30 | 84.93 | 85.56 | 85.95 | 86.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.75 | 79.65 | 81.41 | 82.31 | 84.07 | 84.97 | 86.73 |
| Camarilla | 82.44 | 82.68 | 82.93 | 83.17 | 83.41 | 83.66 | 83.90 |
| Woodie | 79.18 | 79.87 | 81.84 | 82.53 | 84.50 | 85.19 | 87.16 |
| Fibonacci | 79.65 | 80.67 | 81.29 | 82.31 | 83.33 | 83.95 | 84.97 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.17 | 73.19 | 78.45 | 81.47 | 86.73 | 89.75 | 95.01 |
| Camarilla | 81.43 | 82.19 | 82.95 | 83.71 | 84.47 | 85.23 | 85.99 |
| Woodie | 71.29 | 73.75 | 79.57 | 82.03 | 87.85 | 90.31 | 96.13 |
| Fibonacci | 73.19 | 76.35 | 78.31 | 81.47 | 84.63 | 86.59 | 89.75 |
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): | 43.41 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | -8.91 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 85.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 85.49 | |
| Elder Ray (13): | -0.15 | |
| Super Trend (3,10): | 85.47 | |
| Zig ZAG (10): | 85.11 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 5.86 | |
| TEMA (21): | 85.18 | |
| Williams %R (14): | -94.34 | |
| Chande Momentum Oscillator (20): | -0.48 | |
| Repulse (5,40,3): | -0.1100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.68 |
| MA7: | 83.20 | |
| MA20: | 80.96 | |
| MA50: | 77.82 | |
| MA100: | 74.89 | |
| MAexp7: | 85.19 | |
| MAexp20: | 85.26 | |
| MAexp50: | 85.12 | |
| MAexp100: | 84.80 | |
| Price / MA7: | +2.33% | |
| Price / MA20: | +5.16% | |
| Price / MA50: | +9.41% | |
| Price / MA100: | +13.69% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | +0.02% | |
| Price / MAexp100: | +0.40% |
Quotes :
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10 min delayed data
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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: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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