BRENT CRUDE OIL - 1H - Technical analysis published on 01/15/2021 (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:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 56.23 USD
My targets
54.29 USD (-1.36%)
53.15 USD (-3.43%)
My analysis
BRENT CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 56.23 USD. The next support located at 54.29 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 53.15 USD. Below this support, sellers could then target 50.47 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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Additional analysis
Quotes
The BRENT CRUDE OIL rating is 55.04 USD. The price registered a decrease of -2.45% on the session and was traded between 54.65 USD and 56.64 USD over the period. The price is currently at +0.71% from its lowest and -2.82% from its highest.54.65
56.64
55.04
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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 strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
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 Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 50.47 | 53.15 | 54.98 | 55.04 | 56.23 | 57.42 | 74.57 |
| Change (%) | -8.30% | -3.43% | -0.11% | - | +2.16% | +4.32% | +35.48% |
| Change | -4.57 | -1.89 | -0.06 | - | +1.19 | +2.38 | +19.53 |
| Level | Major | Minor | Intermediate | - | Major | Intermediate | Intermediate |
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 | 54.29 | 54.77 | 55.59 | 56.07 | 56.89 | 57.37 | 58.19 |
| Camarilla | 56.06 | 56.18 | 56.30 | 56.42 | 56.54 | 56.66 | 56.78 |
| Woodie | 54.47 | 54.86 | 55.77 | 56.16 | 57.07 | 57.46 | 58.37 |
| Fibonacci | 54.77 | 55.26 | 55.57 | 56.07 | 56.56 | 56.87 | 57.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.56 | 48.57 | 52.28 | 54.29 | 58.00 | 60.01 | 63.72 |
| Camarilla | 54.42 | 54.94 | 55.47 | 55.99 | 56.51 | 57.04 | 57.56 |
| Woodie | 47.41 | 49.00 | 53.13 | 54.72 | 58.85 | 60.44 | 64.57 |
| Fibonacci | 48.57 | 50.76 | 52.11 | 54.29 | 56.48 | 57.83 | 60.01 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.52 | 44.65 | 48.22 | 50.35 | 53.92 | 56.05 | 59.62 |
| Camarilla | 50.23 | 50.76 | 51.28 | 51.80 | 52.32 | 52.85 | 53.37 |
| Woodie | 43.25 | 45.01 | 48.95 | 50.71 | 54.65 | 56.41 | 60.35 |
| Fibonacci | 44.65 | 46.82 | 48.17 | 50.35 | 52.52 | 53.87 | 56.05 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 36.93 | |
| MACD (12,26,9): | -0.2600 | |
| Directional Movement: | -18.56 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 55.26 | |
| Parabolic SAR (0,02-0,02-0,2): | 55.68 | |
| Elder Ray (13): | -0.31 | |
| Super Trend (3,10): | 55.98 | |
| Zig ZAG (10): | 55.13 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 28.78 | |
| TEMA (21): | 55.09 | |
| Williams %R (14): | -73.08 | |
| Chande Momentum Oscillator (20): | -0.67 | |
| Repulse (5,40,3): | 0.1900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 3.33 |
| MA7: | 55.74 | |
| MA20: | 53.09 | |
| MA50: | 49.17 | |
| MA100: | 45.53 | |
| MAexp7: | 55.24 | |
| MAexp20: | 55.57 | |
| MAexp50: | 55.84 | |
| MAexp100: | 55.75 | |
| Price / MA7: | -1.26% | |
| Price / MA20: | +3.67% | |
| Price / MA50: | +11.94% | |
| Price / MA100: | +20.89% | |
| Price / MAexp7: | -0.36% | |
| Price / MAexp20: | -0.95% | |
| Price / MAexp50: | -1.43% | |
| Price / MAexp100: | -1.27% |
Quotes :
2021-01-15 19:02:29
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10 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:
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Remembering Ruth Bader Ginsburg, John Lewis, Brent Scowcroft and 300,000 Americans | Meet The Press
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Crude Oil Brent higher with the promise of increased demand?
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Will Brent crude oil target $54.28? – 11 December 2020
-
Will Brent crude oil continue to push higher? – 27th August 2020
-
China's 'waiting game' isn't helping it - Brent Wilsey
This member declared not having a position on this financial instrument or a related financial instrument.
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