BRENT CRUDE OIL - 1H - Technical analysis published on 10/10/2023 (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
Short term:
Bullish
Underlying:
Bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 86.46 USD
My targets
88.28 USD (+0.43%)
92.02 USD (+4.69%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on BRENT CRUDE OIL as long as the price remains well above 86.46 USD. The buyers' bullish objective is set at 88.28 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 92.02 USD. If there is any crossing, the next objective would be the resistance located at 93.74 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.4
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Additional analysis
Quotes
The BRENT CRUDE OIL price is 87.90 USD. The price is lower by -0.28% since the last closing and was between 86.92 USD and 88.47 USD. This implies that the price is at +1.13% from its lowest and at -0.64% from its highest.86.92
88.47
87.90
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BRENT CRUDE OIL in 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 10 technical indicators on 18 studied are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 80.33 | 84.18 | 86.46 | 87.90 | 88.28 | 92.02 | 93.74 |
| Change (%) | -8.61% | -4.23% | -1.64% | - | +0.43% | +4.69% | +6.64% |
| Change | -7.57 | -3.72 | -1.44 | - | +0.38 | +4.12 | +5.84 |
| Level | Minor | Major | Major | - | Intermediate | Intermediate | Major |
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 | 83.58 | 84.84 | 86.49 | 87.75 | 89.40 | 90.66 | 92.31 |
| Camarilla | 87.35 | 87.62 | 87.88 | 88.15 | 88.42 | 88.68 | 88.95 |
| Woodie | 83.79 | 84.94 | 86.70 | 87.85 | 89.61 | 90.76 | 92.52 |
| Fibonacci | 84.84 | 85.95 | 86.64 | 87.75 | 88.86 | 89.55 | 90.66 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.06 | 77.26 | 80.92 | 87.12 | 90.78 | 96.98 | 100.64 |
| Camarilla | 81.87 | 82.77 | 83.68 | 84.58 | 85.48 | 86.39 | 87.29 |
| Woodie | 69.79 | 76.63 | 79.65 | 86.49 | 89.51 | 96.35 | 99.37 |
| Fibonacci | 77.26 | 81.03 | 83.35 | 87.12 | 90.89 | 93.21 | 96.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.33 | 81.55 | 86.88 | 91.10 | 96.43 | 100.65 | 105.98 |
| Camarilla | 89.57 | 90.45 | 91.33 | 92.20 | 93.08 | 93.95 | 94.83 |
| Woodie | 77.88 | 81.83 | 87.43 | 91.38 | 96.98 | 100.93 | 106.53 |
| Fibonacci | 81.55 | 85.20 | 87.46 | 91.10 | 94.75 | 97.01 | 100.65 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 54.93 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | -1.93 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 87.87 | |
| Parabolic SAR (0,02-0,02-0,2): | 86.77 | |
| Elder Ray (13): | 0.08 | |
| Super Trend (3,10): | 86.70 | |
| Zig ZAG (10): | 87.92 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 54.19 | |
| TEMA (21): | 87.65 | |
| Williams %R (14): | -38.71 | |
| Chande Momentum Oscillator (20): | 0.20 | |
| Repulse (5,40,3): | 0.5500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.44 |
| MA7: | 87.45 | |
| MA20: | 90.22 | |
| MA50: | 86.34 | |
| MA100: | 80.28 | |
| MAexp7: | 87.71 | |
| MAexp20: | 87.70 | |
| MAexp50: | 87.32 | |
| MAexp100: | 87.45 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | -2.57% | |
| Price / MA50: | +1.81% | |
| Price / MA100: | +9.49% | |
| Price / MAexp7: | +0.22% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.66% | |
| Price / MAexp100: | +0.51% |
Quotes :
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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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'FASTEN YOUR SEATBELTS': Brent Bozell warns of Alex Soros' Open Society Foundations takeover
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It's 'increasingly likely' the missing submersible imploded: Brent Sadler
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Trade of the Week: Short Brent crude
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Trade of the Week - Monday 5th December: long Brent crude
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Trade of the Week: Brent Crude 📉
This member declared not having a position on this financial instrument or a related financial instrument.
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