WTI CRUDE OIL - 15 min. - Technical analysis published on 04/15/2024 (GMT)
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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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
67%
28%
My opinion
Bearish under 86.19 USD
My targets
83.76 USD (-0.79%)
82.28 USD (-2.55%)
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 86.19 USD. The next support located at 83.76 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 82.28 USD. Below this support, sellers could then target 79.69 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, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
8
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Additional analysis
Quotes
The WTI CRUDE OIL price is 84.43 USD. On the day, this instrument lost -1.44% and was between 84.05 USD and 86.11 USD. This implies that the price is at +0.45% from its lowest and at -1.95% from its highest.84.05
86.11
84.43
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
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 15 minutes
In fact, 12 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 76.99 | 79.69 | 84.16 | 84.43 | 84.84 | 85.41 | 86.20 |
| Change (%) | -8.81% | -5.61% | -0.32% | - | +0.49% | +1.16% | +2.10% |
| Change | -7.44 | -4.74 | -0.27 | - | +0.41 | +0.98 | +1.77 |
| Level | Major | Minor | Intermediate | - | Major | Minor | 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 | 82.28 | 83.76 | 84.71 | 86.19 | 87.14 | 88.62 | 89.57 |
| Camarilla | 84.99 | 85.22 | 85.44 | 85.66 | 85.88 | 86.11 | 86.33 |
| Woodie | 82.02 | 83.63 | 84.45 | 86.06 | 86.88 | 88.49 | 89.31 |
| Fibonacci | 83.76 | 84.69 | 85.26 | 86.19 | 87.12 | 87.69 | 88.62 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 81.13 | 82.84 | 84.25 | 85.96 | 87.37 | 89.08 | 90.49 |
| Camarilla | 84.80 | 85.09 | 85.37 | 85.66 | 85.95 | 86.23 | 86.52 |
| Woodie | 80.98 | 82.77 | 84.10 | 85.89 | 87.22 | 89.01 | 90.34 |
| Fibonacci | 82.84 | 84.03 | 84.77 | 85.96 | 87.15 | 87.89 | 89.08 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 34.54 | |
| MACD (12,26,9): | -0.1300 | |
| Directional Movement: | -15.20 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 84.66 | |
| Parabolic SAR (0,02-0,02-0,2): | 85.24 | |
| Elder Ray (13): | -0.51 | |
| Super Trend (3,10): | 85.21 | |
| Zig ZAG (10): | 84.34 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 14.31 | |
| TEMA (21): | 84.61 | |
| Williams %R (14): | -82.44 | |
| Chande Momentum Oscillator (20): | -0.75 | |
| Repulse (5,40,3): | -0.6300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.89 |
| MA7: | 85.68 | |
| MA20: | 83.82 | |
| MA50: | 79.66 | |
| MA100: | 75.71 | |
| MAexp7: | 84.51 | |
| MAexp20: | 84.78 | |
| MAexp50: | 84.99 | |
| MAexp100: | 85.27 | |
| Price / MA7: | -1.46% | |
| Price / MA20: | +0.73% | |
| Price / MA50: | +5.99% | |
| Price / MA100: | +11.52% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.40% | |
| Price / MAexp50: | -0.65% | |
| Price / MAexp100: | -0.97% |
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:
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Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
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Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
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Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
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Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
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Technical Analysis: 08/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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