WTI CRUDE OIL - 15 min. - Technical analysis published on 05/03/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
22%
33%
44%
My opinion
Bearish under 79.84 USD
My targets
78.35 USD (-1.03%)
77.63 USD (-1.93%)
My analysis
In a bearish trend, the price of WTI CRUDE OIL tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 79.84 USD. A bearish break in the support located at 78.35 USD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 77.63 USD. Then 76.86 USD by extension. It would be safer to wait for a bearish break in the support located at 78.35 USD before allowing yourself to re trade short positions (for sale) on WTI CRUDE OIL. PS: if there is a bullish break in the resistance located at 79.84 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.1
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 79.16 USD. The price registered an increase of +0.27% on the session and was traded between 79.04 USD and 79.36 USD over the period. The price is currently at +0.15% from its lowest and -0.25% from its highest.79.04
79.36
79.16
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages show a possible weakening of the global trend. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 4 are bullish, 8 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 68.52 | 75.27 | 78.55 | 79.16 | 79.90 | 80.86 | 81.56 |
| Change (%) | -13.44% | -4.91% | -0.77% | - | +0.93% | +2.15% | +3.03% |
| Change | -10.64 | -3.89 | -0.61 | - | +0.74 | +1.70 | +2.40 |
| Level | Major | Intermediate | Major | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 76.86 | 77.63 | 78.35 | 79.12 | 79.84 | 80.61 | 81.33 |
| Camarilla | 78.65 | 78.79 | 78.92 | 79.06 | 79.20 | 79.33 | 79.47 |
| Woodie | 76.83 | 77.62 | 78.32 | 79.11 | 79.81 | 80.60 | 81.30 |
| Fibonacci | 77.63 | 78.20 | 78.55 | 79.12 | 79.69 | 80.04 | 80.61 |
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): | 45.62 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | -5.08 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 79.17 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.02 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 79.40 | |
| Zig ZAG (10): | 79.12 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 13.33 | |
| TEMA (21): | 79.17 | |
| Williams %R (14): | -76.67 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | 0.0200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.07 |
| MA7: | 81.31 | |
| MA20: | 82.68 | |
| MA50: | 80.68 | |
| MA100: | 76.15 | |
| MAexp7: | 79.14 | |
| MAexp20: | 79.14 | |
| MAexp50: | 79.15 | |
| MAexp100: | 79.32 | |
| Price / MA7: | -2.64% | |
| Price / MA20: | -4.26% | |
| Price / MA50: | -1.88% | |
| Price / MA100: | +3.95% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.01% | |
| Price / MAexp100: | -0.20% |
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.
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