WTI CRUDE OIL - 15 min. - Technical analysis published on 05/13/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
28%
17%
56%
My opinion
Bullish above 78.79 USD
My targets
79.43 USD (+0.61%)
80.61 USD (+2.10%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 78.79 USD, you could try to benefit from the boom. The first bullish objective is located at 79.43 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 80.61 USD as an objective. Crossing it would then enable buyers to target 81.25 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.4
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Additional analysis
Quotes
WTI CRUDE OIL rating 78.95 USD. The price registered an increase of +0.88% on the session with the lowest point at 77.78 USD and the highest point at 79.49 USD. The deviation from the price is +1.50% for the low point and -0.68% for the high point.77.78
79.49
78.95
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 15 minutes
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 76.89 | 77.94 | 78.55 | 78.95 | 79.94 | 81.56 | 83.30 |
| Change (%) | -2.61% | -1.28% | -0.51% | - | +1.25% | +3.31% | +5.51% |
| Change | -2.06 | -1.01 | -0.40 | - | +0.99 | +2.61 | +4.35 |
| Level | Minor | Intermediate | Major | - | Major | Major | Minor |
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 | 75.79 | 76.97 | 77.61 | 78.79 | 79.43 | 80.61 | 81.25 |
| Camarilla | 77.76 | 77.93 | 78.09 | 78.26 | 78.43 | 78.59 | 78.76 |
| Woodie | 75.53 | 76.84 | 77.35 | 78.66 | 79.17 | 80.48 | 80.99 |
| Fibonacci | 76.97 | 77.66 | 78.09 | 78.79 | 79.48 | 79.91 | 80.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.71 | 75.30 | 76.78 | 78.37 | 79.85 | 81.44 | 82.92 |
| Camarilla | 77.42 | 77.70 | 77.98 | 78.26 | 78.54 | 78.82 | 79.10 |
| Woodie | 73.66 | 75.27 | 76.73 | 78.34 | 79.80 | 81.41 | 82.87 |
| Fibonacci | 75.30 | 76.47 | 77.20 | 78.37 | 79.54 | 80.27 | 81.44 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 55.23 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | 1.85 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 79.03 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.30 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 79.44 | |
| Zig ZAG (10): | 78.97 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 28.57 | |
| TEMA (21): | 78.99 | |
| Williams %R (14): | -61.90 | |
| Chande Momentum Oscillator (20): | 0.23 | |
| Repulse (5,40,3): | 0.0800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.31 |
| MA7: | 78.64 | |
| MA20: | 80.89 | |
| MA50: | 80.92 | |
| MA100: | 76.69 | |
| MAexp7: | 78.94 | |
| MAexp20: | 78.89 | |
| MAexp50: | 78.70 | |
| MAexp100: | 78.69 | |
| Price / MA7: | +0.39% | |
| Price / MA20: | -2.40% | |
| Price / MA50: | -2.43% | |
| Price / MA100: | +2.95% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | +0.32% | |
| Price / MAexp100: | +0.33% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:
-
Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
-
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
-
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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