WTI CRUDE OIL - 15 min. - Technical analysis published on 04/19/2024 (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:
Bullish
Underlying:
Slightly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 82.59 USD
My targets
83.61 USD (+0.50%)
84.50 USD (+1.56%)
My analysis
The basic trend is currently slightly bullish on WTI CRUDE OIL and the short term does not seem to show any sign of improvement. Buyers are struggling to get their hands on this instrument. However, as long as the price remains above 82.59 USD, purchases could be favourable. The first bullish objective would be the resistance located at 83.61 USD. Then the price could move towards 84.50 USD. Then 85.52 USD by extension. A return under the support to 82.59 USD could jeopardize this fragile bullish trend. Indecision would then be total and in this case you could keep away.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
4.5
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Additional analysis
Quotes
The WTI CRUDE OIL price is 83.20 USD. The price registered an increase of +0.57% on the session and was between 81.80 USD and 86.27 USD. This implies that the price is at +1.71% from its lowest and at -3.56% from its highest.81.80
86.27
83.20
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. The slightly bullish signals given by short-term moving averages do not show a strengthening of this global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD indicator is back over 0
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Upside gap
Type : Bullish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 81.56 | 82.05 | 82.55 | 83.20 | 84.16 | 85.11 | 86.18 |
| Change (%) | -1.97% | -1.38% | -0.78% | - | +1.15% | +2.30% | +3.58% |
| Change | -1.64 | -1.15 | -0.65 | - | +0.96 | +1.91 | +2.98 |
| Level | Major | Minor | Minor | - | Minor | Intermediate | Intermediate |
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 | 79.79 | 80.68 | 81.70 | 82.59 | 83.61 | 84.50 | 85.52 |
| Camarilla | 82.21 | 82.38 | 82.56 | 82.73 | 82.91 | 83.08 | 83.26 |
| Woodie | 79.87 | 80.71 | 81.78 | 82.62 | 83.69 | 84.53 | 85.60 |
| Fibonacci | 80.68 | 81.41 | 81.86 | 82.59 | 83.32 | 83.77 | 84.50 |
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): | 57.94 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 7.23 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 82.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 82.27 | |
| Elder Ray (13): | 0.36 | |
| Super Trend (3,10): | 82.26 | |
| Zig ZAG (10): | 83.22 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 94.29 | |
| TEMA (21): | 82.91 | |
| Williams %R (14): | -5.23 | |
| Chande Momentum Oscillator (20): | 1.18 | |
| Repulse (5,40,3): | 0.3300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 2.12 |
| MA7: | 84.31 | |
| MA20: | 84.23 | |
| MA50: | 80.57 | |
| MA100: | 76.09 | |
| MAexp7: | 83.09 | |
| MAexp20: | 82.79 | |
| MAexp50: | 83.05 | |
| MAexp100: | 83.18 | |
| Price / MA7: | -1.32% | |
| Price / MA20: | -1.22% | |
| Price / MA50: | +3.26% | |
| Price / MA100: | +9.34% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.50% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.02% |
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
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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