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 01/20/2021 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

56%

44%

My opinion

Bullish above 53.92 USD

My targets

59.62 USD (+5.86%)

74.57 USD (+32.40%)

My analysis

The bullish trend is currently very strong on BRENT CRUDE OIL. As long as the price remains above the support at 53.92 USD, you could try to benefit from the boom. The first bullish objective is located at 59.62 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 74.57 USD as an objective. Crossing it would then enable buyers to target 79.69 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.9

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

Additional analysis

Quotes

The BRENT CRUDE OIL price is 56.32 USD. The price has increased by +0.75% since the last closing with the lowest point at 55.90 USD and the highest point at 56.38 USD. The deviation from the price is +0.75% for the low point and -0.11% for the high point.

55.90

56.38

56.32

A study of price movements over other periods shows the following variations:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 BRENT CRUDE OIL in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

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:

White morning star

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	43.25	50.47	56.23	56.32	74.57	79.69	86.29
Change (%)	-23.21%	-10.39%	-0.16%	-	+32.40%	+41.50%	+53.21%
Change	-13.07	-5.85	-0.09	-	+18.25	+23.37	+29.97
Level	Intermediate	Major	Major	-	Intermediate	Minor	Intermediate

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	53.99	54.45	55.17	55.63	56.35	56.81	57.53
Camarilla	55.58	55.68	55.79	55.90	56.01	56.12	56.22
Woodie	54.13	54.52	55.31	55.70	56.49	56.88	57.67
Fibonacci	54.45	54.90	55.18	55.63	56.08	56.36	56.81

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	51.26	52.95	54.03	55.72	56.80	58.49	59.57
Camarilla	54.34	54.59	54.85	55.10	55.35	55.61	55.86
Woodie	50.95	52.80	53.72	55.57	56.49	58.34	59.26
Fibonacci	52.95	54.01	54.67	55.72	56.78	57.44	58.49

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):	67.66
MACD (12,26,9):	1.8100
Directional Movement:	18.86
AROON (14):	50.00
DEMA (21):	56.45
Parabolic SAR (0,02-0,02-0,2):	54.50
Elder Ray (13):	1.24
Super Trend (3,10):	52.00
Zig ZAG (10):	56.30
VORTEX (21):	1.1400
Stochastique (14,3,5):	74.66
TEMA (21):	56.61
Williams %R (14):	-15.64
Chande Momentum Oscillator (20):	5.26
Repulse (5,40,3):	2.0600
ROCnROLL:	1
TRIX (15,9):	0.5300
Courbe Coppock:	17.01

MA7:	55.88
MA20:	53.72
MA50:	50.05
MA100:	45.83
MAexp7:	55.62
MAexp20:	53.99
MAexp50:	50.68
MAexp100:	47.68
Price / MA7:	+0.79%
Price / MA20:	+4.84%
Price / MA50:	+12.53%
Price / MA100:	+22.89%
Price / MAexp7:	+1.26%
Price / MAexp20:	+4.32%
Price / MAexp50:	+11.13%
Price / MAexp100:	+18.12%

Quotes : 2021-01-20 08:03:41 - 10 min delayed data - NYMEX Futures

News

The last news published on BRENT CRUDE OIL at the time of the generation of this analysis was as follows:

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

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