BRENT CRUDE OIL - 15 min. - Technical analysis published on 11/29/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 81.07 USD
My targets
83.42 USD (+0.90%)
84.82 USD (+2.59%)
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 81.07 USD. The next resistance located at 83.42 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 84.82 USD. After this resistance, buyers could then target 86.75 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
8.6
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This analysis was given by berlin77. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BRENT CRUDE OIL price is 82.68 USD. The price registered an increase of +1.42% on the session and was traded between 81.30 USD and 82.80 USD over the period. The price is currently at +1.70% from its lowest and -0.14% from its highest.81.30
82.80
82.68
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
Here is a more detailed summary of the historical variations registered by BRENT CRUDE OIL:
Technical
Technical analysis of this 15 min. chart of BRENT CRUDE OIL indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 14 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 77.19 | 79.02 | 81.01 | 82.68 | 82.81 | 86.75 | 92.41 |
| Change (%) | -6.64% | -4.43% | -2.02% | - | +0.16% | +4.92% | +11.77% |
| Change | -5.49 | -3.66 | -1.67 | - | +0.13 | +4.07 | +9.73 |
| Level | Minor | Major | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.77 | 78.72 | 80.12 | 81.07 | 82.47 | 83.42 | 84.82 |
| Camarilla | 80.87 | 81.09 | 81.31 | 81.52 | 81.74 | 81.95 | 82.17 |
| Woodie | 78.00 | 78.83 | 80.35 | 81.18 | 82.70 | 83.53 | 85.05 |
| Fibonacci | 78.72 | 79.62 | 80.17 | 81.07 | 81.97 | 82.52 | 83.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.67 | 75.96 | 78.19 | 80.48 | 82.71 | 85.00 | 87.23 |
| Camarilla | 79.18 | 79.59 | 80.01 | 80.42 | 80.83 | 81.25 | 81.66 |
| Woodie | 73.64 | 75.95 | 78.16 | 80.47 | 82.68 | 84.99 | 87.20 |
| Fibonacci | 75.96 | 77.69 | 78.75 | 80.48 | 82.21 | 83.27 | 85.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.92 | 76.03 | 80.25 | 86.36 | 90.58 | 96.69 | 100.91 |
| Camarilla | 81.63 | 82.58 | 83.52 | 84.47 | 85.42 | 86.36 | 87.31 |
| Woodie | 68.98 | 75.56 | 79.31 | 85.89 | 89.64 | 96.22 | 99.97 |
| Fibonacci | 76.03 | 79.98 | 82.41 | 86.36 | 90.31 | 92.74 | 96.69 |
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): | 74.25 | |
| MACD (12,26,9): | 0.3100 | |
| Directional Movement: | 26.12 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 82.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 82.30 | |
| Elder Ray (13): | 0.39 | |
| Super Trend (3,10): | 82.23 | |
| Zig ZAG (10): | 82.78 | |
| VORTEX (21): | 1.2800 | |
| Stochastique (14,3,5): | 97.32 | |
| TEMA (21): | 82.76 | |
| Williams %R (14): | -2.40 | |
| Chande Momentum Oscillator (20): | 1.05 | |
| Repulse (5,40,3): | 0.2900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 2.25 |
| MA7: | 81.40 | |
| MA20: | 81.69 | |
| MA50: | 85.49 | |
| MA100: | 83.71 | |
| MAexp7: | 82.61 | |
| MAexp20: | 82.22 | |
| MAexp50: | 81.81 | |
| MAexp100: | 81.43 | |
| Price / MA7: | +1.57% | |
| Price / MA20: | +1.21% | |
| Price / MA50: | -3.29% | |
| Price / MA100: | -1.23% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.56% | |
| Price / MAexp50: | +1.06% | |
| Price / MAexp100: | +1.54% |
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:
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Trading volatility: Brent around OPEC meeting
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'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
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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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