BRENT CRUDE OIL - 1H - Technical analysis published on 12/19/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
28%
28%
44%
My opinion
Bullish above 77.38 USD
My targets
79.02 USD (+1.44%)
82.84 USD (+6.34%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on BRENT CRUDE OIL. As long as you are above the support located at 77.38 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 79.02 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 82.84 USD as an objective. Crossing it would then enable buyers to target 86.75 USD. If the support 77.38 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2.5
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This analysis was given by Choochoo. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BRENT CRUDE OIL rating is 77.90 USD. The price registered a decrease of -0.06% on the session and was between 77.43 USD and 78.28 USD. This implies that the price is at +0.61% from its lowest and at -0.49% from its highest.77.43
78.28
77.90
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 1H chart of BRENT CRUDE OIL indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Momentum indicator is back under 0
Type : Bearish
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 | 73.61 | 74.99 | 77.38 | 77.90 | 79.02 | 82.84 | 86.75 |
| Change (%) | -5.51% | -3.74% | -0.67% | - | +1.44% | +6.34% | +11.36% |
| Change | -4.29 | -2.91 | -0.52 | - | +1.12 | +4.94 | +8.85 |
| Level | Minor | Intermediate | Intermediate | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.25 | 74.02 | 75.98 | 77.75 | 79.71 | 81.48 | 83.44 |
| Camarilla | 76.92 | 77.27 | 77.61 | 77.95 | 78.29 | 78.63 | 78.98 |
| Woodie | 72.36 | 74.07 | 76.09 | 77.80 | 79.82 | 81.53 | 83.55 |
| Fibonacci | 74.02 | 75.44 | 76.32 | 77.75 | 79.17 | 80.05 | 81.48 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.40 | 70.35 | 73.45 | 75.40 | 78.50 | 80.45 | 83.55 |
| Camarilla | 75.16 | 75.62 | 76.09 | 76.55 | 77.01 | 77.48 | 77.94 |
| Woodie | 68.98 | 70.64 | 74.03 | 75.69 | 79.08 | 80.74 | 84.13 |
| Fibonacci | 70.35 | 72.28 | 73.47 | 75.40 | 77.33 | 78.52 | 80.45 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.16 | 69.80 | 74.34 | 80.98 | 85.52 | 92.16 | 96.70 |
| Camarilla | 75.81 | 76.83 | 77.86 | 78.88 | 79.91 | 80.93 | 81.96 |
| Woodie | 62.11 | 69.28 | 73.29 | 80.46 | 84.47 | 91.64 | 95.65 |
| Fibonacci | 69.80 | 74.07 | 76.71 | 80.98 | 85.25 | 87.89 | 92.16 |
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): | 51.25 | |
| MACD (12,26,9): | 0.1100 | |
| Directional Movement: | -4.47 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 78.12 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.64 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 77.20 | |
| Zig ZAG (10): | 77.92 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 54.12 | |
| TEMA (21): | 77.99 | |
| Williams %R (14): | -36.47 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | 0.2700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 0.87 |
| MA7: | 76.08 | |
| MA20: | 77.97 | |
| MA50: | 82.17 | |
| MA100: | 83.59 | |
| MAexp7: | 77.94 | |
| MAexp20: | 77.92 | |
| MAexp50: | 77.46 | |
| MAexp100: | 76.84 | |
| Price / MA7: | +2.39% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | -5.20% | |
| Price / MA100: | -6.81% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | +0.57% | |
| Price / MAexp100: | +1.38% |
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:
-
Trading volatility: Brent around OPEC meeting
-
'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
-
Trade of the Week: Short Brent crude
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Trade of the Week - Monday 5th December: long Brent crude
This member declared not having a position on this financial instrument or a related financial instrument.
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