BRENT CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	BRN
ISIN:

BRENT CRUDE OIL - Weekly - Technical analysis published on 12/31/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

22%

56%

22%

My opinion

Bearish under 78.76 USD

My targets

74.08 USD (-3.84%)

67.24 USD (-12.72%)

My analysis

The strong short-term decrease of BRENT CRUDE OIL should quickly allow the basic trend to become bearish. As long as the price remains below the resistance located at 78.76 USD, a sale could be considered. The first bearish objective is located at 74.08 USD. The bearish momentum would be boosted by a support break. Sellers could then target the support located at 67.24 USD. If there is any crossing, the next objective would be support 46.88 USD. Caution, if there is a return to above 78.76 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

2.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by jann1414. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

BRENT CRUDE OIL rating 77.04 USD. The price is lower by -2.57% over the 5 days with the lowest point at 76.75 USD and the highest point at 80.99 USD. The deviation from the price is +0.38% for the low point and -4.88% for the high point.

76.75

80.99

77.04

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Weekly chart of BRENT CRUDE OIL indicates that the overall trend is not clearly defined. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : Weekly

In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 4 are neutral and 10 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Ichimoku - Bearish crossover : Tenkan & Kijun

Type : Bearish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	24.07	46.88	67.24	77.04	78.76	92.15	103.86
Change (%)	-68.76%	-39.15%	-12.72%	-	+2.23%	+19.61%	+34.81%
Change	-52.97	-30.16	-9.80	-	+1.72	+15.11	+26.82
Level	Minor	Major	Major	-	Major	Major	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	73.47	75.28	76.22	78.03	78.97	80.78	81.72
Camarilla	76.39	76.65	76.90	77.15	77.40	77.65	77.91
Woodie	73.03	75.06	75.78	77.81	78.53	80.56	81.28
Fibonacci	75.28	76.33	76.98	78.03	79.08	79.73	80.78

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	71.27	73.40	76.10	78.23	80.93	83.06	85.76
Camarilla	77.48	77.93	78.37	78.81	79.25	79.70	80.14
Woodie	71.57	73.54	76.40	78.37	81.23	83.20	86.06
Fibonacci	73.40	75.24	76.38	78.23	80.07	81.21	83.06

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	62.90	69.54	74.08	80.72	85.26	91.90	96.44
Camarilla	75.55	76.57	77.60	78.62	79.65	80.67	81.70
Woodie	61.85	69.02	73.03	80.20	84.21	91.38	95.39
Fibonacci	69.54	73.81	76.45	80.72	84.99	87.63	91.90

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):	44.12
MACD (12,26,9):	-0.5400
Directional Movement:	-3.96
AROON (14):	-78.57
DEMA (21):	80.61
Parabolic SAR (0,02-0,02-0,2):	85.60
Elder Ray (13):	-1.09
Super Trend (3,10):	91.31
Zig ZAG (10):	76.90
VORTEX (21):	0.9800
Stochastique (14,3,5):	24.38
TEMA (21):	79.13
Williams %R (14):	-77.61
Chande Momentum Oscillator (20):	-6.10
Repulse (5,40,3):	-4.7800
ROCnROLL:	2
TRIX (15,9):	0.2000
Courbe Coppock:	17.33

MA7:	78.83
MA20:	77.03
MA50:	80.67
MA100:	83.18
MAexp7:	78.67
MAexp20:	80.63
MAexp50:	79.56
MAexp100:	73.96
Price / MA7:	-2.27%
Price / MA20:	+0.01%
Price / MA50:	-4.50%
Price / MA100:	-7.38%
Price / MAexp7:	-2.07%
Price / MAexp20:	-4.45%
Price / MAexp50:	-3.17%
Price / MAexp100:	+4.16%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on BRENT CRUDE OIL at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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