BRENT CRUDE OIL
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 04/16/2021 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 64.98 USD
My targets
69.63 USD (+3.76%)
74.57 USD (+11.12%)
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 64.98 USD. The next resistance located at 69.63 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 74.57 USD. After this resistance, buyers could then target 79.69 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The BRENT CRUDE OIL price is 67.11 USD. The price has increased by +0.25% since the last closing with the lowest point at 66.75 USD and the highest point at 67.38 USD. The deviation from the price is +0.54% for the low point and -0.40% for the high point.

66.75
67.38
67.11

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by BRENT CRUDE OIL:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this Daily chart of BRENT CRUDE OIL indicates that the overall trend is strongly bullish. The signals given by the moving averages are 89.29% 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.

In fact, 14 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily


CCI indicator: bearish divergence

Type : Bearish

Timeframe : Daily


CCI indicator: bullish divergence

Type : Bullish

Timeframe : Daily


MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly


Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily


Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily


Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly


MACD indicator is back over 0

Type : Bullish

Timeframe : Daily



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 50.47 56.23 64.98 67.11 69.63 74.57 79.69
Change (%) -24.80% -16.21% -3.17% - +3.76% +11.12% +18.75%
Change -16.64 -10.88 -2.13 - +2.52 +7.46 +12.58
Level Major Major Intermediate - Intermediate Intermediate Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard65.1965.5766.2666.6467.3367.7168.40
Camarilla66.6566.7466.8466.9467.0467.1467.23
Woodie65.3465.6566.4166.7267.4867.7968.55
Fibonacci65.5765.9866.2466.6467.0567.3167.71


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard57.6259.4361.1963.0064.7666.5768.33
Camarilla61.9762.3062.6262.9563.2863.6163.93
Woodie57.6059.4261.1762.9964.7466.5668.31
Fibonacci59.4360.7961.6463.0064.3665.2166.57


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard48.5454.4059.6365.4970.7276.5881.81
Camarilla61.8162.8363.8464.8665.8866.8967.91
Woodie48.2354.2459.3265.3370.4176.4281.50
Fibonacci54.4058.6461.2565.4969.7372.3476.58

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): 58.52
MACD (12,26,9): 0.3600
Directional Movement: 5.11
AROON (14): 64.29
DEMA (21): 65.02
Parabolic SAR (0,02-0,02-0,2): 60.66
Elder Ray (13): 2.26
Super Trend (3,10): 70.05
Zig ZAG (10): 67.00
VORTEX (21): 0.9800
Stochastique (14,3,5): 95.62
TEMA (21): 64.74
Williams %R (14): -5.37
Chande Momentum Oscillator (20): 2.87
Repulse (5,40,3): 3.4200
ROCnROLL: 1
TRIX (15,9): -0.0300
Courbe Coppock: 3.97
MA7: 64.82
MA20: 63.96
MA50: 64.58
MA100: 58.63
MAexp7: 65.42
MAexp20: 64.63
MAexp50: 63.10
MAexp100: 58.92
Price / MA7: +3.53%
Price / MA20: +4.92%
Price / MA50: +3.92%
Price / MA100: +14.46%
Price / MAexp7: +2.58%
Price / MAexp20: +3.84%
Price / MAexp50: +6.35%
Price / MAexp100: +13.90%

Quotes : - 10 min delayed data - NYMEX Futures

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

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