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 - 1H - Technical analysis published on 11/17/2023 (GMT)
- 180
- 0
- 11/17/2023 - 09:55
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- Timeframe : 1H
- - Analysis generated on 11/17/2023 - 09:55
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 79.18 USD
My targets
76.82 USD (-1.44%)
72.71 USD (-6.71%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BRENT CRUDE OIL as long as the price remains well below 79.18 USD. The next bearish objective for sellers is set at 76.82 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 72.71 USD. If there is any crossing, the next objective would be the support located at 69.91 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
3
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This analysis was given by ciaciocoin. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BRENT CRUDE OIL rating is 77.94 USD. On the day, this instrument gained +0.67% and was traded between 77.28 USD and 78.20 USD over the period. The price is currently at +0.85% from its lowest and -0.33% from its highest.77.28
78.20
77.94
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 sharp bearish trend. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 69.91 | 72.71 | 76.82 | 77.94 | 79.18 | 82.04 | 82.96 |
| Change (%) | -10.30% | -6.71% | -1.44% | - | +1.59% | +5.26% | +6.44% |
| Change | -8.03 | -5.23 | -1.12 | - | +1.24 | +4.10 | +5.02 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.07 | 73.83 | 75.63 | 78.39 | 80.19 | 82.95 | 84.75 |
| Camarilla | 76.17 | 76.58 | 77.00 | 77.42 | 77.84 | 78.26 | 78.67 |
| Woodie | 70.58 | 73.59 | 75.14 | 78.15 | 79.70 | 82.71 | 84.26 |
| Fibonacci | 73.83 | 75.58 | 76.65 | 78.39 | 80.14 | 81.21 | 82.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.95 | 75.06 | 78.24 | 82.35 | 85.53 | 89.64 | 92.82 |
| Camarilla | 79.43 | 80.09 | 80.76 | 81.43 | 82.10 | 82.77 | 83.44 |
| Woodie | 70.50 | 74.83 | 77.79 | 82.12 | 85.08 | 89.41 | 92.37 |
| Fibonacci | 75.06 | 77.84 | 79.56 | 82.35 | 85.13 | 86.85 | 89.64 |
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): | 42.31 | |
| MACD (12,26,9): | -0.6200 | |
| Directional Movement: | -12.02 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 77.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 76.63 | |
| Elder Ray (13): | 0.13 | |
| Super Trend (3,10): | 78.41 | |
| Zig ZAG (10): | 78.11 | |
| VORTEX (21): | 0.6700 | |
| Stochastique (14,3,5): | 87.67 | |
| TEMA (21): | 77.29 | |
| Williams %R (14): | -11.11 | |
| Chande Momentum Oscillator (20): | 0.64 | |
| Repulse (5,40,3): | 0.8000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 0.68 |
| MA7: | 80.43 | |
| MA20: | 83.89 | |
| MA50: | 86.87 | |
| MA100: | 83.14 | |
| MAexp7: | 77.72 | |
| MAexp20: | 78.12 | |
| MAexp50: | 79.39 | |
| MAexp100: | 80.45 | |
| Price / MA7: | -3.10% | |
| Price / MA20: | -7.09% | |
| Price / MA50: | -10.28% | |
| Price / MA100: | -6.25% | |
| Price / MAexp7: | +0.28% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -1.83% | |
| Price / MAexp100: | -3.12% |
Quotes :
11/17/2023 - 09:45
-
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:
-
07/13/2023 - 20:00
'FASTEN YOUR SEATBELTS': Brent Bozell warns of Alex Soros' Open Society Foundations takeover
-
06/22/2023 - 18:15
It's 'increasingly likely' the missing submersible imploded: Brent Sadler
-
02/13/2023 - 19:00
Trade of the Week: Short Brent crude
-
12/05/2022 - 18:00
Trade of the Week - Monday 5th December: long Brent crude
-
08/01/2022 - 15:00
Trade of the Week: Brent Crude 📉
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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