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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the WTI OIL for JAN 14, 2025
Fundamental Analysis of WTI OIL
WTI OIL Key Takeaways
Sanctions trigger oil price increases: In the past few months, the market consensus for 2025 is that crude oil will be in large surplus, prices will be flat or even weak. But the outlook has become more complicated after the United States imposed the boldest package of sanctions on Russia’s energy industry to date. The market expects that sanctions will force buyers of Russian oil to seek other supplies.
Three major crude oil reports: This week, the three major oil market institutions will publish their latest monthly reports to help investors sort out their thoughts. The U.S. Energy Information Administration (EIA) will release a report on Tuesday, and the Paris-based International Energy Agency and the oil-producing group OPEC will release reports on Wednesday. Currently, OPEC plans to relax its supply restrictions from April.
Technical Analysis of WTI OIL Daily and Hourly Charts
WTI OIL Daily Chart Insights
(WTI OIL Daily Price Chart, Source: Ultima Markets MT4)
(WTI OIL Daily Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator is out of the overbought area and sent a bullish signal again yesterday. It suggests that the upward trend is strong, bulls still have the upper hand, and traders can still pay attention to short-term long opportunities.
Strong rise: Yesterday, oil prices broke through the downward trend line since September 2023 without adjustment, suggesting that the bulls are strong. The next target is the 80 integer mark, which is also the previous long-short conversion price of 80.46.
WTI OIL 1-hour Chart Analysis
(WTI OIL H1 Price Chart, Source: Ultima Markets MT4)
(WTI OIL H1 Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: Focus on the divergence between the current indicator and the oil price. Since last week, the intraday trend has shown three consecutive top divergences. In theory, it is due to fundamental news that stimulated the short-term rise in the market price. Be alert to the adjustment of the indicator during today’s Asian session, or it may fall below the 50 median line.
Adjustment target: The current upward trend of oil prices has always been supported by the 13-period MA of the color. Before the oil price falls below the MA, the oil price still has the probability of continuing to rise. However, it is necessary to be vigilant about the deep adjustment of oil prices at any time. The target below is the upward trend line, which is also the black 65-period MA.
Pivot Indicator Insights for WTI OIL
(WTI OIL M30 Price Chart, Source: Ultima Markets APP)
(WTI OIL M30 Price Chart, Source: Ultima Markets APP)
According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 76.30,
Bullish Scenario: Bullish sentiment prevails above 76.30, first target 78.00, second target 79.10;
Bearish Outlook: In a bearish scenario below 76.30, first target 75.60, second target 74.60.
How to Navigate the Commodity Market with Ultima Markets
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