BRENT CRUDE OIL - 1H - Technical analysis published on 11/03/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
33%
17%
50%
My opinion
Bullish above 86.98 USD
My targets
88.44 USD (+1.40%)
89.18 USD (+2.25%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on BRENT CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 86.98 USD, a purchase could be considered. The first bullish objective is located at 88.44 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 89.18 USD as an objective. Crossing it would then enable buyers to target 91.16 USD. In the event of a return below 86.98 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
4.8
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This analysis was given by Flowryan. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BRENT CRUDE OIL rating 87.22 USD. The price has increased by +0.43% since the last closing and was between 86.50 USD and 87.36 USD. This implies that the price is at +0.83% from its lowest and at -0.16% from its highest.86.50
87.36
87.22
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BRENT CRUDE OIL chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 85.51 | 86.22 | 86.98 | 87.22 | 88.44 | 89.18 | 91.16 |
| Change (%) | -1.96% | -1.15% | -0.28% | - | +1.40% | +2.25% | +4.52% |
| Change | -1.71 | -1.00 | -0.24 | - | +1.22 | +1.96 | +3.94 |
| Level | Minor | Minor | Intermediate | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.88 | 83.74 | 85.30 | 86.16 | 87.72 | 88.58 | 90.14 |
| Camarilla | 86.19 | 86.41 | 86.63 | 86.85 | 87.07 | 87.29 | 87.52 |
| Woodie | 83.22 | 83.92 | 85.64 | 86.34 | 88.06 | 88.76 | 90.48 |
| Fibonacci | 83.74 | 84.67 | 85.24 | 86.16 | 87.09 | 87.66 | 88.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 80.38 | 82.94 | 86.13 | 88.69 | 91.88 | 94.44 | 97.63 |
| Camarilla | 87.73 | 88.26 | 88.78 | 89.31 | 89.84 | 90.36 | 90.89 |
| Woodie | 80.69 | 83.10 | 86.44 | 88.85 | 92.19 | 94.60 | 97.94 |
| Fibonacci | 82.94 | 85.14 | 86.50 | 88.69 | 90.89 | 92.25 | 94.44 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.08 | 76.18 | 80.41 | 86.51 | 90.74 | 96.84 | 101.07 |
| Camarilla | 81.79 | 82.74 | 83.68 | 84.63 | 85.58 | 86.52 | 87.47 |
| Woodie | 69.14 | 75.71 | 79.47 | 86.04 | 89.80 | 96.37 | 100.13 |
| Fibonacci | 76.18 | 80.13 | 82.57 | 86.51 | 90.46 | 92.90 | 96.84 |
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): | 60.56 | |
| MACD (12,26,9): | 0.2900 | |
| Directional Movement: | 3.47 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 87.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 87.34 | |
| Elder Ray (13): | 0.09 | |
| Super Trend (3,10): | 86.30 | |
| Zig ZAG (10): | 87.22 | |
| VORTEX (21): | 1.2800 | |
| Stochastique (14,3,5): | 46.79 | |
| TEMA (21): | 87.29 | |
| Williams %R (14): | -16.28 | |
| Chande Momentum Oscillator (20): | 0.24 | |
| Repulse (5,40,3): | 0.5700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 0.94 |
| MA7: | 86.60 | |
| MA20: | 87.65 | |
| MA50: | 87.62 | |
| MA100: | 82.10 | |
| MAexp7: | 87.06 | |
| MAexp20: | 86.79 | |
| MAexp50: | 86.45 | |
| MAexp100: | 86.63 | |
| Price / MA7: | +0.72% | |
| Price / MA20: | -0.49% | |
| Price / MA50: | -0.46% | |
| Price / MA100: | +6.24% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.50% | |
| Price / MAexp50: | +0.89% | |
| Price / MAexp100: | +0.68% |
Quotes :
-
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:
-
'FASTEN YOUR SEATBELTS': Brent Bozell warns of Alex Soros' Open Society Foundations takeover
-
It's 'increasingly likely' the missing submersible imploded: Brent Sadler
-
Trade of the Week: Short Brent crude
-
Trade of the Week - Monday 5th December: long Brent crude
-
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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