BRENT CRUDE OIL - 1H - Technical analysis published on 10/09/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
22%
39%
39%
My opinion
Bullish above 42.42 USD
My targets
44.51 USD (+3.54%)
46.06 USD (+7.14%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on BRENT CRUDE OIL. As long as you are above the support located at 42.42 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 44.51 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 46.06 USD as an objective. Crossing it would then enable buyers to target 50.47 USD. If the support 42.42 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
2
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BRENT CRUDE OIL rating 42.99 USD. The price is lower by -0.81% since the last closing with the lowest point at 42.85 USD and the highest point at 43.56 USD. The deviation from the price is +0.33% for the low point and -1.31% for the high point.42.85
43.56
42.99
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BRENT CRUDE OIL indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Moving Average bearish crossovers : AMA50 & AMA100
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 7 are neutral and 7 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 39.82 | 40.84 | 42.42 | 42.99 | 50.47 | 56.36 | 65.18 |
| Change (%) | -7.37% | -5.00% | -1.33% | - | +17.40% | +31.10% | +51.62% |
| Change | -3.17 | -2.15 | -0.57 | - | +7.48 | +13.37 | +22.19 |
| Level | Major | Intermediate | Intermediate | - | Major | Intermediate | 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 | 40.76 | 41.31 | 42.37 | 42.92 | 43.98 | 44.53 | 45.59 |
| Camarilla | 42.99 | 43.14 | 43.28 | 43.43 | 43.58 | 43.73 | 43.87 |
| Woodie | 41.02 | 41.44 | 42.63 | 43.05 | 44.24 | 44.66 | 45.85 |
| Fibonacci | 41.31 | 41.93 | 42.31 | 42.92 | 43.54 | 43.92 | 44.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33.55 | 36.17 | 37.72 | 40.34 | 41.89 | 44.51 | 46.06 |
| Camarilla | 38.12 | 38.51 | 38.89 | 39.27 | 39.65 | 40.04 | 40.42 |
| Woodie | 33.02 | 35.90 | 37.19 | 40.07 | 41.36 | 44.24 | 45.53 |
| Fibonacci | 36.17 | 37.76 | 38.75 | 40.34 | 41.93 | 42.92 | 44.51 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.37 | 35.32 | 38.13 | 42.08 | 44.89 | 48.84 | 51.65 |
| Camarilla | 39.07 | 39.69 | 40.31 | 40.93 | 41.55 | 42.17 | 42.79 |
| Woodie | 30.79 | 35.04 | 37.55 | 41.80 | 44.31 | 48.56 | 51.07 |
| Fibonacci | 35.32 | 37.91 | 39.50 | 42.08 | 44.67 | 46.26 | 48.84 |
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): | 46.06 | |
| MACD (12,26,9): | 0.1400 | |
| Directional Movement: | 1.28 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 43.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 43.52 | |
| Elder Ray (13): | -0.20 | |
| Super Trend (3,10): | 42.78 | |
| Zig ZAG (10): | 42.95 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 33.58 | |
| TEMA (21): | 43.27 | |
| Williams %R (14): | -93.33 | |
| Chande Momentum Oscillator (20): | -0.30 | |
| Repulse (5,40,3): | -0.8900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0800 | |
| Courbe Coppock: | 0.04 |
| MA7: | 42.61 | |
| MA20: | 41.79 | |
| MA50: | 43.23 | |
| MA100: | 42.35 | |
| MAexp7: | 43.22 | |
| MAexp20: | 43.10 | |
| MAexp50: | 42.69 | |
| MAexp100: | 42.22 | |
| Price / MA7: | +0.89% | |
| Price / MA20: | +2.87% | |
| Price / MA50: | -0.56% | |
| Price / MA100: | +1.51% | |
| Price / MAexp7: | -0.53% | |
| Price / MAexp20: | -0.26% | |
| Price / MAexp50: | +0.70% | |
| Price / MAexp100: | +1.82% |
Quotes :
2020-10-09 09:47:54
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15 min delayed data
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NYMEX Futures
News
The last news published on BRENT CRUDE OIL at the time of the generation of this analysis was as follows:
-
Will Brent crude oil continue to push higher? – 27th August 2020
-
China's 'waiting game' isn't helping it - Brent Wilsey
-
Will Brent crude oil retest the June lows? – 4th July 2019
-
Will Brent Crude push higher? – 11th April 2019
-
Oil news | A trade deal could push Brent to $70
This member declared not having a position on this financial instrument or a related financial instrument.
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