BRENT CRUDE OIL - 1H - Technical analysis published on 06/09/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 75.07 USD
My targets
76.60 USD (+0.45%)
77.64 USD (+1.81%)
My analysis
The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade BRENT CRUDE OIL with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 75.07 USD. The buyers' bullish objective is set at 76.60 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 77.64 USD. If there is any crossing, the next objective would be the resistance located at 78.42 USD. If there is a bearish break in the support located at 75.07 USD some indecision would arise.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
2.7
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This analysis was given by Rainer76. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BRENT CRUDE OIL rating 76.26 USD. The price has increased by +0.40% since the last closing and was between 75.27 USD and 76.35 USD. This implies that the price is at +1.32% from its lowest and at -0.12% from its highest.75.27
76.35
76.26
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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
A technical analysis in 1H of this BRENT CRUDE OIL chart shows a slightly bullish trend. 46.43% of the signals given by moving averages are bullish. The overall trend remains fragile, as do the slightly bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 73.57 | 74.17 | 75.07 | 76.26 | 76.60 | 77.64 | 78.42 |
| Change (%) | -3.53% | -2.74% | -1.56% | - | +0.45% | +1.81% | +2.83% |
| Change | -2.69 | -2.09 | -1.19 | - | +0.34 | +1.38 | +2.16 |
| Level | Intermediate | Minor | Major | - | Minor | 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 | 69.71 | 71.64 | 73.80 | 75.73 | 77.89 | 79.82 | 81.98 |
| Camarilla | 74.84 | 75.21 | 75.59 | 75.96 | 76.34 | 76.71 | 77.09 |
| Woodie | 69.83 | 71.70 | 73.92 | 75.79 | 78.01 | 79.88 | 82.10 |
| Fibonacci | 71.64 | 73.20 | 74.17 | 75.73 | 77.29 | 78.26 | 79.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.15 | 68.82 | 72.47 | 75.14 | 78.79 | 81.46 | 85.11 |
| Camarilla | 74.39 | 74.97 | 75.55 | 76.13 | 76.71 | 77.29 | 77.87 |
| Woodie | 66.65 | 69.07 | 72.97 | 75.39 | 79.29 | 81.71 | 85.61 |
| Fibonacci | 68.82 | 71.23 | 72.72 | 75.14 | 77.55 | 79.04 | 81.46 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.92 | 62.61 | 68.45 | 74.14 | 79.98 | 85.67 | 91.51 |
| Camarilla | 71.11 | 72.17 | 73.22 | 74.28 | 75.34 | 76.39 | 77.45 |
| Woodie | 56.99 | 62.65 | 68.52 | 74.18 | 80.05 | 85.71 | 91.58 |
| Fibonacci | 62.61 | 67.02 | 69.74 | 74.14 | 78.55 | 81.27 | 85.67 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 55.20 | |
| MACD (12,26,9): | -0.1300 | |
| Directional Movement: | -1.44 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 75.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 74.06 | |
| Elder Ray (13): | 0.40 | |
| Super Trend (3,10): | 76.63 | |
| Zig ZAG (10): | 76.30 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 87.51 | |
| TEMA (21): | 75.71 | |
| Williams %R (14): | -4.63 | |
| Chande Momentum Oscillator (20): | 0.74 | |
| Repulse (5,40,3): | 1.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 0.11 |
| MA7: | 76.09 | |
| MA20: | 75.98 | |
| MA50: | 78.81 | |
| MA100: | 80.00 | |
| MAexp7: | 75.93 | |
| MAexp20: | 75.91 | |
| MAexp50: | 76.14 | |
| MAexp100: | 76.14 | |
| Price / MA7: | +0.22% | |
| Price / MA20: | +0.37% | |
| Price / MA50: | -3.24% | |
| Price / MA100: | -4.68% | |
| Price / MAexp7: | +0.43% | |
| Price / MAexp20: | +0.46% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.16% |
Quotes :
-
10 min delayed data
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NYMEX Futures
News
The last news published on BRENT CRUDE OIL at the time of the generation of this analysis was as follows:
-
Trade of the Week: Short Brent crude
-
Trade of the Week - Monday 5th December: long Brent crude
-
Trade of the Week: Brent Crude 📉
-
Pentagon On The Death Of Journalist Brent Renaud, Injury Of Fox News’ Benjamin Hall
-
Brent Sadler says he’s ‘not too concerned’ about a nuclear threat from Chernobyl
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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