WTI CRUDE OIL
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 04/15/2024 (GMT)

  • 99
  • 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
  • Timeframe : 1H
  • - Analysis generated on
  • Status : INVALID

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 85.41 USD
My targets
84.16 USD (-0.72%)
79.69 USD (-5.99%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 85.41 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 84.16 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 79.69 USD as an objective. Crossing it would then enable sellers to target 76.99 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.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8

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:
15 min. Daily Weekly

Additional analysis

Quotes

The WTI CRUDE OIL price is 84.77 USD. On the day, this instrument lost -1.04% with the lowest point at 84.05 USD and the highest point at 86.11 USD. The deviation from the price is +0.86% for the low point and -1.56% for the high point.

84.05
86.11
84.77

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

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 this 1H chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 76.99 79.69 84.16 84.77 84.84 85.41 86.20
Change (%) -9.18% -5.99% -0.72% - +0.08% +0.75% +1.69%
Change -7.78 -5.08 -0.61 - +0.07 +0.64 +1.43
Level Major Minor Intermediate - Major Minor Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard82.2883.7684.7186.1987.1488.6289.57
Camarilla84.9985.2285.4485.6685.8886.1186.33
Woodie82.0283.6384.4586.0686.8888.4989.31
Fibonacci83.7684.6985.2686.1987.1287.6988.62


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard81.1382.8484.2585.9687.3789.0890.49
Camarilla84.8085.0985.3785.6685.9586.2386.52
Woodie80.9882.7784.1085.8987.2289.0190.34
Fibonacci82.8484.0384.7785.9687.1587.8989.08


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard70.1773.1978.4581.4786.7389.7595.01
Camarilla81.4382.1982.9583.7184.4785.2385.99
Woodie71.2973.7579.5782.0387.8590.3196.13
Fibonacci73.1976.3578.3181.4784.6386.5989.75

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 41.94
MACD (12,26,9): -0.2900
Directional Movement: -11.20
AROON (14): -85.71
DEMA (21): 84.68
Parabolic SAR (0,02-0,02-0,2): 85.33
Elder Ray (13): -0.36
Super Trend (3,10): 85.96
Zig ZAG (10): 84.71
VORTEX (21): 0.8900
Stochastique (14,3,5): 40.24
TEMA (21): 84.51
Williams %R (14): -58.16
Chande Momentum Oscillator (20): -0.71
Repulse (5,40,3): 0.1500
ROCnROLL: 2
TRIX (15,9): -0.0500
Courbe Coppock: 1.59
MA7: 85.74
MA20: 83.85
MA50: 79.67
MA100: 75.72
MAexp7: 84.75
MAexp20: 85.05
MAexp50: 85.41
MAexp100: 85.58
Price / MA7: -1.13%
Price / MA20: +1.10%
Price / MA50: +6.40%
Price / MA100: +11.95%
Price / MAexp7: +0.02%
Price / MAexp20: -0.33%
Price / MAexp50: -0.75%
Price / MAexp100: -0.95%

Quotes : - 10 min delayed data - NYMEX Futures

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

About author

Online

Overall rating :
15124
Number of analyses :
Followers :
0
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

Add a comment

no pic

Comments

0 comments on the analysis WTI CRUDE OIL - 1H