BRENT CRUDE OIL - 1H - Technical analysis published on 10/28/2021 (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
39%
33%
28%
My opinion
Bearish under 83.36 USD
My targets
82.56 USD (-0.61%)
81.13 USD (-2.34%)
My analysis
BRENT CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 83.36 USD. The next support located at 82.56 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 81.13 USD. Below this support, sellers could then target 77.15 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.9
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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
The BRENT CRUDE OIL price is 83.07 USD. On the day, this instrument lost -0.95% and was between 81.62 USD and 83.60 USD. This implies that the price is at +1.78% from its lowest and at -0.63% from its highest.81.62
83.60
83.07
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BRENT CRUDE OIL:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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 sharp bearish trend. 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. 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: 7 are bullish, 5 are neutral and 6 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 69.11 | 77.15 | 82.56 | 83.07 | 83.36 | 83.84 | 85.29 |
| Change (%) | -16.81% | -7.13% | -0.61% | - | +0.35% | +0.93% | +2.67% |
| Change | -13.96 | -5.92 | -0.51 | - | +0.29 | +0.77 | +2.22 |
| Level | Major | Intermediate | Minor | - | 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 | 81.44 | 82.75 | 83.66 | 84.97 | 85.88 | 87.19 | 88.10 |
| Camarilla | 83.97 | 84.17 | 84.38 | 84.58 | 84.78 | 84.99 | 85.19 |
| Woodie | 81.25 | 82.65 | 83.47 | 84.87 | 85.69 | 87.09 | 87.91 |
| Fibonacci | 82.75 | 83.60 | 84.12 | 84.97 | 85.82 | 86.34 | 87.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 81.13 | 82.24 | 83.89 | 85.00 | 86.65 | 87.76 | 89.41 |
| Camarilla | 84.77 | 85.02 | 85.28 | 85.53 | 85.78 | 86.04 | 86.29 |
| Woodie | 81.39 | 82.38 | 84.15 | 85.14 | 86.91 | 87.90 | 89.67 |
| Fibonacci | 82.24 | 83.30 | 83.95 | 85.00 | 86.06 | 86.71 | 87.76 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.35 | 67.12 | 73.20 | 76.97 | 83.05 | 86.82 | 92.90 |
| Camarilla | 76.57 | 77.47 | 78.38 | 79.28 | 80.18 | 81.09 | 81.99 |
| Woodie | 64.51 | 67.70 | 74.36 | 77.55 | 84.21 | 87.40 | 94.06 |
| Fibonacci | 67.12 | 70.88 | 73.21 | 76.97 | 80.73 | 83.06 | 86.82 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.43 | |
| MACD (12,26,9): | -0.7700 | |
| Directional Movement: | -14.95 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 82.56 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.65 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 83.38 | |
| Zig ZAG (10): | 83.13 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 39.41 | |
| TEMA (21): | 82.20 | |
| Williams %R (14): | -55.79 | |
| Chande Momentum Oscillator (20): | -1.51 | |
| Repulse (5,40,3): | 0.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1300 | |
| Courbe Coppock: | 5.31 |
| MA7: | 85.15 | |
| MA20: | 83.66 | |
| MA50: | 77.67 | |
| MA100: | 75.39 | |
| MAexp7: | 82.91 | |
| MAexp20: | 83.57 | |
| MAexp50: | 84.56 | |
| MAexp100: | 84.97 | |
| Price / MA7: | -2.44% | |
| Price / MA20: | -0.71% | |
| Price / MA50: | +6.95% | |
| Price / MA100: | +10.19% | |
| Price / MAexp7: | +0.19% | |
| Price / MAexp20: | -0.60% | |
| Price / MAexp50: | -1.76% | |
| Price / MAexp100: | -2.24% |
Quotes :
-
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
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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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