BRENT CRUDE OIL - 1H - Technical analysis published on 04/07/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
39%
39%
My opinion
Bearish under 63.49 USD
My targets
62.37 USD (-0.42%)
61.24 USD (-2.22%)
My analysis
The bearish trend is currently very strong for BRENT CRUDE OIL. As long as the price remains below the resistance at 63.49 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 62.37 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 61.24 USD as an objective. Crossing it would then enable sellers to target 60.79 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.6
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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 62.63 USD. The price registered a decrease of -0.18% on the session and was traded between 62.17 USD and 63.52 USD over the period. The price is currently at +0.74% from its lowest and -1.40% from its highest.62.17
63.52
62.63
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 LOW record (1 month)
Type : Bearish
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 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 60.79 | 61.24 | 62.37 | 62.63 | 63.49 | 64.25 | 65.16 |
| Change (%) | -2.94% | -2.22% | -0.42% | - | +1.37% | +2.59% | +4.04% |
| Change | -1.84 | -1.39 | -0.26 | - | +0.86 | +1.62 | +2.53 |
| Level | Intermediate | Minor | Intermediate | - | 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 | 59.60 | 60.84 | 61.79 | 63.03 | 63.98 | 65.22 | 66.17 |
| Camarilla | 62.14 | 62.34 | 62.54 | 62.74 | 62.94 | 63.14 | 63.34 |
| Woodie | 59.46 | 60.77 | 61.65 | 62.96 | 63.84 | 65.15 | 66.03 |
| Fibonacci | 60.84 | 61.68 | 62.19 | 63.03 | 63.87 | 64.38 | 65.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 59.75 | 61.06 | 62.96 | 64.27 | 66.17 | 67.48 | 69.38 |
| Camarilla | 63.98 | 64.27 | 64.57 | 64.86 | 65.15 | 65.45 | 65.74 |
| Woodie | 60.05 | 61.21 | 63.26 | 64.42 | 66.47 | 67.63 | 69.68 |
| Fibonacci | 61.06 | 62.29 | 63.04 | 64.27 | 65.50 | 66.25 | 67.48 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48.54 | 54.40 | 59.63 | 65.49 | 70.72 | 76.58 | 81.81 |
| Camarilla | 61.81 | 62.83 | 63.84 | 64.86 | 65.88 | 66.89 | 67.91 |
| Woodie | 48.23 | 54.24 | 59.32 | 65.33 | 70.41 | 76.42 | 81.50 |
| Fibonacci | 54.40 | 58.64 | 61.25 | 65.49 | 69.73 | 72.34 | 76.58 |
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): | 44.09 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -2.31 | |
| AROON (14): | 14.28 | |
| DEMA (21): | 62.92 | |
| Parabolic SAR (0,02-0,02-0,2): | 62.31 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 62.29 | |
| Zig ZAG (10): | 62.54 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 64.38 | |
| TEMA (21): | 62.98 | |
| Williams %R (14): | -72.52 | |
| Chande Momentum Oscillator (20): | -0.17 | |
| Repulse (5,40,3): | -0.3700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.66 |
| MA7: | 63.45 | |
| MA20: | 65.01 | |
| MA50: | 63.43 | |
| MA100: | 57.23 | |
| MAexp7: | 62.93 | |
| MAexp20: | 62.88 | |
| MAexp50: | 63.02 | |
| MAexp100: | 63.25 | |
| Price / MA7: | -1.29% | |
| Price / MA20: | -3.66% | |
| Price / MA50: | -1.26% | |
| Price / MA100: | +9.44% | |
| Price / MAexp7: | -0.48% | |
| Price / MAexp20: | -0.40% | |
| Price / MAexp50: | -0.62% | |
| Price / MAexp100: | -0.98% |
Quotes :
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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:
-
Will Brent crude oil target $58.65? – 21 January 2021
-
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?
-
Will Brent crude oil target $54.28? – 11 December 2020
-
Will Brent crude oil continue to push higher? – 27th August 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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