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 08/08/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

28%

33%

39%

My opinion

Bullish above 74.57 USD

My targets

76.22 USD (+1.45%)

77.91 USD (+3.70%)

My analysis

A bullish trend on WTI CRUDE OIL both in substance and in the short term. A purchase could be considered as long as the price remains above 74.57 USD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 76.22 USD. Then the price could move towards 77.91 USD. Then 78.88 USD by extension. Be careful, a return below 74.57 USD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.

Force

2.7

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 75.13 USD. The price is lower by -0.13% since the last closing with the lowest point at 74.60 USD and the highest point at 75.70 USD. The deviation from the price is +0.71% for the low point and -0.75% for the high point.

74.60

75.70

75.13

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

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : 1 hour

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
The Central Indicators scanner found this result concerning these indicators:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:

Bearish harami

Type : Bearish

Timeframe : 1 hour

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	71.67	72.48	74.57	75.13	75.27	76.22	77.91
Change (%)	-4.61%	-3.53%	-0.75%	-	+0.19%	+1.45%	+3.70%
Change	-3.46	-2.65	-0.56	-	+0.14	+1.09	+2.78
Level	Minor	Major	Major	-	Major	Intermediate	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	70.00	71.29	73.26	74.55	76.52	77.81	79.78
Camarilla	74.33	74.63	74.93	75.23	75.53	75.83	76.13
Woodie	70.34	71.46	73.60	74.72	76.86	77.98	80.12
Fibonacci	71.29	72.54	73.31	74.55	75.80	76.57	77.81

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	65.46	69.21	71.37	75.12	77.28	81.03	83.19
Camarilla	71.90	72.44	72.98	73.52	74.06	74.60	75.15
Woodie	64.66	68.81	70.57	74.72	76.48	80.63	82.39
Fibonacci	69.21	71.47	72.87	75.12	77.38	78.78	81.03

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	64.59	69.59	72.95	77.95	81.31	86.31	89.67
Camarilla	74.01	74.78	75.54	76.31	77.08	77.84	78.61
Woodie	63.77	69.18	72.13	77.54	80.49	85.90	88.85
Fibonacci	69.59	72.78	74.76	77.95	81.14	83.12	86.31

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):	55.03
MACD (12,26,9):	0.2100
Directional Movement:	1.57
AROON (14):	-42.86
DEMA (21):	75.40
Parabolic SAR (0,02-0,02-0,2):	74.62
Elder Ray (13):	0.14
Super Trend (3,10):	74.40
Zig ZAG (10):	75.16
VORTEX (21):	1.1000
Stochastique (14,3,5):	57.58
TEMA (21):	75.29
Williams %R (14):	-50.00
Chande Momentum Oscillator (20):	-0.32
Repulse (5,40,3):	-0.2700
ROCnROLL:	-1
TRIX (15,9):	0.0600
Courbe Coppock:	0.59

MA7:	74.89
MA20:	77.23
MA50:	77.71
MA100:	78.02
MAexp7:	75.15
MAexp20:	75.07
MAexp50:	74.64
MAexp100:	74.68
Price / MA7:	+0.32%
Price / MA20:	-2.72%
Price / MA50:	-3.32%
Price / MA100:	-3.70%
Price / MAexp7:	-0.03%
Price / MAexp20:	+0.08%
Price / MAexp50:	+0.66%
Price / MAexp100:	+0.60%

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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