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 - 15 min. - Technical analysis published on 05/02/2024 (GMT)

Londinia

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Timeframe : 15 min.
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bullish

Technical indicators

67%

11%

22%

My opinion

Bullish above 78.03 USD

My targets

79.80 USD (+0.09%)

80.77 USD (+1.30%)

My analysis

WTI CRUDE OIL is currently trying to strengthen its basic trend with a very bullish short term. As long as the price remains above 78.03 USD, traders may consider taking advantage of this bullish acceleration and setting themselves to trade only long positions (at the time of purchase). Buyers will encounter the resistance at 79.80 USD. A bullish break in this resistance would confirm a continuation of the bullish acceleration. The next resistance located at 80.77 USD would then be the next bullish objective for buyers. Crossing it would then enable buyers to target 82.54 USD. Beware of a possible return to under the support located at 78.03 USD which would be the sign of a correction of the bullish excesses registered in the short term.

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

3.9

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 KBPRASAD. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 79.73 USD. On the day, this instrument gained +0.92% and was traded between 79.02 USD and 79.90 USD over the period. The price is currently at +0.90% from its lowest and -0.21% from its highest.

79.02

79.90

79.73

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following result:

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. Only 53.57% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : 15 minutes

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 15 minutes

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 15 minutes

The probability of a further increase are moderate given the direction of the technical indicators.
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

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : 15 minutes

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.52	75.27	78.55	79.73	80.95	81.56	82.42
Change (%)	-14.06%	-5.59%	-1.48%	-	+1.53%	+2.30%	+3.37%
Change	-11.21	-4.46	-1.18	-	+1.22	+1.83	+2.69
Level	Major	Intermediate	Major	-	Minor	Intermediate	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	75.29	77.06	78.03	79.80	80.77	82.54	83.51
Camarilla	78.25	78.50	78.75	79.00	79.25	79.50	79.75
Woodie	74.89	76.86	77.63	79.60	80.37	82.34	83.11
Fibonacci	77.06	78.11	78.75	79.80	80.85	81.49	82.54

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	77.79	79.24	81.55	83.00	85.31	86.76	89.07
Camarilla	82.82	83.16	83.51	83.85	84.20	84.54	84.88
Woodie	78.21	79.46	81.97	83.22	85.73	86.98	89.49
Fibonacci	79.24	80.68	81.57	83.00	84.44	85.33	86.76

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	68.68	73.75	76.38	81.45	84.08	89.15	91.78
Camarilla	76.88	77.59	78.29	79.00	79.71	80.41	81.12
Woodie	67.45	73.14	75.15	80.84	82.85	88.54	90.55
Fibonacci	73.75	76.70	78.51	81.45	84.40	86.21	89.15

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):	55.15
MACD (12,26,9):	0.0200
Directional Movement:	13.60
AROON (14):	0
DEMA (21):	79.62
Parabolic SAR (0,02-0,02-0,2):	79.26
Elder Ray (13):	0.15
Super Trend (3,10):	79.32
Zig ZAG (10):	79.74
VORTEX (21):	1.0500
Stochastique (14,3,5):	80.39
TEMA (21):	79.66
Williams %R (14):	-22.06
Chande Momentum Oscillator (20):	-0.04
Repulse (5,40,3):	0.1900
ROCnROLL:	1
TRIX (15,9):	0.0100
Courbe Coppock:	0.08

MA7:	81.94
MA20:	83.05
MA50:	80.65
MA100:	76.03
MAexp7:	79.66
MAexp20:	79.57
MAexp50:	79.55
MAexp100:	79.79
Price / MA7:	-2.70%
Price / MA20:	-4.00%
Price / MA50:	-1.14%
Price / MA100:	+4.87%
Price / MAexp7:	+0.09%
Price / MAexp20:	+0.20%
Price / MAexp50:	+0.23%
Price / MAexp100:	-0.08%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

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

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