BRENT CRUDE OIL - Daily - Technical analysis published on 12/11/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 62.59 USD
My targets
65.05 USD (+1.10%)
67.02 USD (+4.17%)
My analysis
BRENT CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 62.59 USD. The next resistance located at 65.05 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 67.02 USD. After this resistance, buyers could then target 69.02 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
7.5
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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 64.34 USD. The price has increased by +0.14% since the last closing and was traded between 63.77 USD and 64.68 USD over the period. The price is currently at +0.89% from its lowest and -0.53% from its highest.63.77
64.68
64.34
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BRENT CRUDE OIL indicates that the overall trend is strongly bullish. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 57.07 | 59.96 | 62.59 | 64.34 | 65.05 | 67.02 | 69.02 |
| Change (%) | -11.30% | -6.81% | -2.72% | - | +1.10% | +4.17% | +7.27% |
| Change | -7.27 | -4.38 | -1.75 | - | +0.71 | +2.68 | +4.68 |
| Level | Major | Intermediate | Major | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.16 | 62.00 | 63.19 | 64.03 | 65.22 | 66.06 | 67.25 |
| Camarilla | 63.83 | 64.02 | 64.20 | 64.39 | 64.58 | 64.76 | 64.95 |
| Woodie | 61.35 | 62.09 | 63.38 | 64.12 | 65.41 | 66.15 | 67.44 |
| Fibonacci | 62.00 | 62.77 | 63.25 | 64.03 | 64.80 | 65.28 | 66.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.79 | 57.57 | 59.03 | 61.81 | 63.27 | 66.05 | 67.51 |
| Camarilla | 59.32 | 59.71 | 60.10 | 60.49 | 60.88 | 61.27 | 61.66 |
| Woodie | 54.13 | 57.24 | 58.37 | 61.48 | 62.61 | 65.72 | 66.85 |
| Fibonacci | 57.57 | 59.19 | 60.19 | 61.81 | 63.43 | 64.43 | 66.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.71 | 57.50 | 59.00 | 61.79 | 63.29 | 66.08 | 67.58 |
| Camarilla | 59.31 | 59.70 | 60.10 | 60.49 | 60.88 | 61.28 | 61.67 |
| Woodie | 54.06 | 57.18 | 58.35 | 61.47 | 62.64 | 65.76 | 66.93 |
| Fibonacci | 57.50 | 59.14 | 60.16 | 61.79 | 63.43 | 64.45 | 66.08 |
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): | 58.22 | |
| MACD (12,26,9): | 0.4800 | |
| Directional Movement: | 5.32 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 63.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 60.39 | |
| Elder Ray (13): | 1.10 | |
| Super Trend (3,10): | 59.66 | |
| Zig ZAG (10): | 64.25 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 82.78 | |
| TEMA (21): | 63.46 | |
| Williams %R (14): | -13.38 | |
| Chande Momentum Oscillator (20): | 0.28 | |
| Repulse (5,40,3): | 2.4800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 1.73 |
| MA7: | 62.47 | |
| MA20: | 62.78 | |
| MA50: | 61.23 | |
| MA100: | 61.23 | |
| MAexp7: | 63.28 | |
| MAexp20: | 62.72 | |
| MAexp50: | 62.06 | |
| MAexp100: | 62.14 | |
| Price / MA7: | +2.99% | |
| Price / MA20: | +2.48% | |
| Price / MA50: | +5.08% | |
| Price / MA100: | +5.08% | |
| Price / MAexp7: | +1.68% | |
| Price / MAexp20: | +2.58% | |
| Price / MAexp50: | +3.67% | |
| Price / MAexp100: | +3.54% |
News
The last news published on BRENT CRUDE OIL at the time of the generation of this analysis was as follows:
-
China's 'waiting game' isn't helping it - Brent Wilsey
-
Will Brent crude oil retest the June lows? – 4th July 2019
-
Will Brent Crude push higher? – 11th April 2019
-
Oil news | A trade deal could push Brent to $70
-
Short Brent crude | Trade of the week
This member declared not having a position on this financial instrument or a related financial instrument.
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