BRENT CRUDE OIL - 1H - Technical analysis published on 01/20/2021 (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 bullish
De fond:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 54.98 USD
My targets
56.64 USD (+0.59%)
57.42 USD (+1.97%)
My analysis
BRENT CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 54.98 USD. The next resistance located at 56.64 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 57.42 USD. After this resistance, buyers could then target 74.57 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.7
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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 56.31 USD. The price has increased by +0.73% 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 +0.73% for the low point and -0.12% for the high point.55.90
56.38
56.31
Here is a more detailed summary of the historical variations registered by BRENT CRUDE OIL:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BRENT CRUDE OIL chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals 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.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
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 Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 54.50 | 54.98 | 56.23 | 56.31 | 56.64 | 57.42 | 74.57 |
| Change (%) | -3.21% | -2.36% | -0.14% | - | +0.59% | +1.97% | +32.43% |
| Change | -1.81 | -1.33 | -0.08 | - | +0.33 | +1.11 | +18.26 |
| Level | Minor | Major | Major | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 73.26 | |
| MACD (12,26,9): | 0.2800 | |
| Directional Movement: | 20.84 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 56.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 56.17 | |
| Elder Ray (13): | 0.21 | |
| Super Trend (3,10): | 55.82 | |
| Zig ZAG (10): | 56.30 | |
| VORTEX (21): | 1.2600 | |
| Stochastique (14,3,5): | 92.63 | |
| TEMA (21): | 56.45 | |
| Williams %R (14): | -3.23 | |
| Chande Momentum Oscillator (20): | 0.46 | |
| Repulse (5,40,3): | 0.3200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 2.05 |
| MA7: | 55.88 | |
| MA20: | 53.72 | |
| MA50: | 50.05 | |
| MA100: | 45.83 | |
| MAexp7: | 56.23 | |
| MAexp20: | 55.92 | |
| MAexp50: | 55.63 | |
| MAexp100: | 55.55 | |
| Price / MA7: | +0.77% | |
| Price / MA20: | +4.82% | |
| Price / MA50: | +12.51% | |
| Price / MA100: | +22.87% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.70% | |
| Price / MAexp50: | +1.22% | |
| Price / MAexp100: | +1.37% |
Quotes :
2021-01-20 08:04:19
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on BRENT CRUDE OIL at the time of the analysis were 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
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Will Brent crude oil continue to push higher? – 27th August 2020
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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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