MINI CRUDE OIL FULL0624 - 1H - Technical analysis published on 05/26/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 72.642 USD
My targets
71.025 USD (-1.29%)
70.669 USD (-1.78%)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on MINI CRUDE OIL FULL0723 as long as the price remains well below 72.642 USD. The next bearish objective for sellers is set at 71.025 USD. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 70.669 USD. If there is any crossing, the next objective would be the support located at 70.125 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
2
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This analysis was given by JulianDB. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MINI CRUDE OIL FULL0723 rating is 71.950 USD. The price registered an increase of +0.17% on the session and was between 71.500 USD and 72.225 USD. This implies that the price is at +0.63% from its lowest and at -0.38% from its highest.71.500
72.225
71.950
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:
Technical
Technical analysis of this 1H chart of MINI CRUDE OIL FULL0723 indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 70.125 | 70.669 | 71.025 | 71.950 | 72.035 | 72.642 | 73.545 |
| Change (%) | -2.54% | -1.78% | -1.29% | - | +0.12% | +0.96% | +2.22% |
| Change | -1.825 | -1.281 | -0.925 | - | +0.085 | +0.692 | +1.595 |
| Level | Minor | Minor | Intermediate | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.092 | 69.058 | 70.442 | 72.408 | 73.792 | 75.758 | 77.142 |
| Camarilla | 70.904 | 71.211 | 71.518 | 71.825 | 72.132 | 72.439 | 72.746 |
| Woodie | 66.800 | 68.913 | 70.150 | 72.263 | 73.500 | 75.613 | 76.850 |
| Fibonacci | 69.058 | 70.338 | 71.129 | 72.408 | 73.688 | 74.479 | 75.758 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.525 | 67.500 | 69.600 | 71.575 | 73.675 | 75.650 | 77.750 |
| Camarilla | 70.579 | 70.953 | 71.327 | 71.700 | 72.074 | 72.447 | 72.821 |
| Woodie | 65.588 | 67.531 | 69.663 | 71.606 | 73.738 | 75.681 | 77.813 |
| Fibonacci | 67.500 | 69.057 | 70.018 | 71.575 | 73.132 | 74.093 | 75.650 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.725 | 68.375 | 72.050 | 77.700 | 81.375 | 87.025 | 90.700 |
| Camarilla | 73.161 | 74.015 | 74.870 | 75.725 | 76.580 | 77.435 | 78.289 |
| Woodie | 61.738 | 67.881 | 71.063 | 77.206 | 80.388 | 86.531 | 89.713 |
| Fibonacci | 68.375 | 71.937 | 74.138 | 77.700 | 81.262 | 83.463 | 87.025 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.99 | |
| MACD (12,26,9): | -0.3410 | |
| Directional Movement: | -5.308 | |
| AROON (14): | 35.714 | |
| DEMA (21): | 71.615 | |
| Parabolic SAR (0,02-0,02-0,2): | 71.292 | |
| Elder Ray (13): | -0.037 | |
| Super Trend (3,10): | 72.800 | |
| Zig ZAG (10): | 72.200 | |
| VORTEX (21): | 0.8790 | |
| Stochastique (14,3,5): | 71.71 | |
| TEMA (21): | 71.550 | |
| Williams %R (14): | -31.03 | |
| Chande Momentum Oscillator (20): | 0.050 | |
| Repulse (5,40,3): | 0.1360 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0930 | |
| Courbe Coppock: | 0.55 |
| MA7: | 72.400 | |
| MA20: | 71.935 | |
| MA50: | 74.570 | |
| MA100: | 76.041 | |
| MAexp7: | 71.896 | |
| MAexp20: | 72.115 | |
| MAexp50: | 72.627 | |
| MAexp100: | 72.676 | |
| Price / MA7: | -0.62% | |
| Price / MA20: | +0.02% | |
| Price / MA50: | -3.51% | |
| Price / MA100: | -5.38% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -0.93% | |
| Price / MAexp100: | -1.00% |
Quotes :
-
10 min delayed data
-
NYMEX E-mini Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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