BRENT CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	BRN
ISIN:

BRENT CRUDE OIL - Daily - Technical analysis published on 05/17/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

39%

28%

33%

My opinion

Bearish under 85.71 USD

My targets

82.96 USD (-0.99%)

79.31 USD (-5.35%)

My analysis

The strong short-term decline in BRENT CRUDE OIL calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 85.71 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 82.96 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 79.31 USD as an objective. Crossing it would then enable sellers to target 75.53 USD. Be careful, a return to above 85.71 USD could jeopardize the reversal.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

0.4

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

Additional analysis

Quotes

BRENT CRUDE OIL rating 83.79 USD. The price has increased by +0.62% since the last closing and was traded between 83.31 USD and 83.83 USD over the period. The price is currently at +0.58% from its lowest and -0.05% from its highest.

83.31

83.83

83.79

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

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by BRENT CRUDE OIL:

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

Technical analysis of BRENT CRUDE OIL in Daily shows an overall slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

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

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	75.53	79.31	82.96	83.79	85.71	87.47	89.17
Change (%)	-9.86%	-5.35%	-0.99%	-	+2.29%	+4.39%	+6.42%
Change	-8.26	-4.48	-0.83	-	+1.92	+3.68	+5.38
Level	Minor	Intermediate	Intermediate	-	Minor	Intermediate	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	80.99	81.65	82.46	83.12	83.93	84.59	85.40
Camarilla	82.87	83.00	83.14	83.27	83.41	83.54	83.67
Woodie	81.07	81.69	82.54	83.16	84.01	84.63	85.48
Fibonacci	81.65	82.21	82.56	83.12	83.68	84.03	84.59

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	78.70	80.21	81.50	83.01	84.30	85.81	87.10
Camarilla	82.02	82.28	82.53	82.79	83.05	83.30	83.56
Woodie	78.59	80.16	81.39	82.96	84.19	85.76	86.99
Fibonacci	80.21	81.28	81.94	83.01	84.08	84.74	85.81

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	73.22	78.25	80.85	85.88	88.48	93.51	96.11
Camarilla	81.34	82.04	82.74	83.44	84.14	84.84	85.54
Woodie	72.00	77.64	79.63	85.27	87.26	92.90	94.89
Fibonacci	78.25	81.17	82.97	85.88	88.80	90.60	93.51

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):	46.23
MACD (12,26,9):	-0.7800
Directional Movement:	-9.73
AROON (14):	-85.71
DEMA (21):	83.35
Parabolic SAR (0,02-0,02-0,2):	81.06
Elder Ray (13):	-0.20
Super Trend (3,10):	87.27
Zig ZAG (10):	83.78
VORTEX (21):	0.9500
Stochastique (14,3,5):	31.31
TEMA (21):	82.32
Williams %R (14):	-58.90
Chande Momentum Oscillator (20):	0.37
Repulse (5,40,3):	1.0300
ROCnROLL:	-1
TRIX (15,9):	-0.1200
Courbe Coppock:	7.52

MA7:	83.17
MA20:	84.58
MA50:	85.26
MA100:	81.42
MAexp7:	83.33
MAexp20:	84.23
MAexp50:	84.17
MAexp100:	82.45
Price / MA7:	+0.75%
Price / MA20:	-0.93%
Price / MA50:	-1.72%
Price / MA100:	+2.91%
Price / MAexp7:	+0.55%
Price / MAexp20:	-0.52%
Price / MAexp50:	-0.45%
Price / MAexp100:	+1.63%

Quotes : - 10 min delayed data - NYMEX Futures

News

Don't forget to follow the news on BRENT CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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