BRENT CRUDE OIL - 1H - Technical analysis published on 05/19/2021 (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
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 68.19 USD
My targets
67.05 USD (-0.58%)
66.48 USD (-1.42%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BRENT CRUDE OIL as long as the price remains well below 68.19 USD. The sellers' bearish objective is set at 67.05 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 66.48 USD. In case of crossing, the next objective would be the support located at 60.79 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7
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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 67.44 USD. On the day, this instrument lost -1.85% with the lowest point at 67.26 USD and the highest point at 68.60 USD. The deviation from the price is +0.27% for the low point and -1.69% for the high point.67.26
68.60
67.44
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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
Technical
Technical analysis of BRENT CRUDE OIL in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 3 are neutral and 11 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
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 | 66.48 | 67.05 | 67.39 | 67.44 | 68.19 | 68.48 | 69.38 |
| Change (%) | -1.42% | -0.58% | -0.07% | - | +1.11% | +1.54% | +2.88% |
| Change | -0.96 | -0.39 | -0.05 | - | +0.75 | +1.04 | +1.94 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | 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 | 64.29 | 65.78 | 67.25 | 68.74 | 70.21 | 71.70 | 73.17 |
| Camarilla | 67.90 | 68.17 | 68.44 | 68.71 | 68.98 | 69.25 | 69.52 |
| Woodie | 64.27 | 65.78 | 67.23 | 68.74 | 70.19 | 71.70 | 73.15 |
| Fibonacci | 65.78 | 66.91 | 67.61 | 68.74 | 69.87 | 70.57 | 71.70 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.91 | 64.69 | 66.70 | 68.48 | 70.49 | 72.27 | 74.28 |
| Camarilla | 67.67 | 68.02 | 68.36 | 68.71 | 69.06 | 69.41 | 69.75 |
| Woodie | 63.03 | 64.75 | 66.82 | 68.54 | 70.61 | 72.33 | 74.40 |
| Fibonacci | 64.69 | 66.14 | 67.03 | 68.48 | 69.93 | 70.82 | 72.27 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.33 | 58.29 | 62.52 | 65.48 | 69.71 | 72.67 | 76.90 |
| Camarilla | 64.78 | 65.44 | 66.10 | 66.76 | 67.42 | 68.08 | 68.74 |
| Woodie | 55.98 | 58.61 | 63.17 | 65.80 | 70.36 | 72.99 | 77.55 |
| Fibonacci | 58.29 | 61.03 | 62.73 | 65.48 | 68.22 | 69.92 | 72.67 |
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): | 32.62 | |
| MACD (12,26,9): | -0.4100 | |
| Directional Movement: | -30.70 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 67.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 68.18 | |
| Elder Ray (13): | -0.32 | |
| Super Trend (3,10): | 68.51 | |
| Zig ZAG (10): | 67.56 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 13.25 | |
| TEMA (21): | 67.33 | |
| Williams %R (14): | -90.30 | |
| Chande Momentum Oscillator (20): | -1.03 | |
| Repulse (5,40,3): | -0.5700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 2.81 |
| MA7: | 68.46 | |
| MA20: | 67.76 | |
| MA50: | 66.17 | |
| MA100: | 62.74 | |
| MAexp7: | 67.67 | |
| MAexp20: | 68.22 | |
| MAexp50: | 68.58 | |
| MAexp100: | 68.60 | |
| Price / MA7: | -1.49% | |
| Price / MA20: | -0.47% | |
| Price / MA50: | +1.92% | |
| Price / MA100: | +7.49% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | -1.14% | |
| Price / MAexp50: | -1.66% | |
| Price / MAexp100: | -1.69% |
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:
-
Brent Crude Breakout Imminent
-
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
-
Crude Oil Brent higher with the promise of increased demand?
-
Will Brent crude oil target $54.28? – 11 December 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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