BRENT CRUDE OIL - 1H - Technical analysis published on 03/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 82.07 USD
My targets
83.14 USD (+0.70%)
83.47 USD (+1.10%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BRENT CRUDE OIL as long as the price remains well above 82.07 USD. The buyers' bullish objective is set at 83.14 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 83.47 USD. If there is any crossing, the next objective would be the resistance located at 84.06 USD.
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
5.9
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Additional analysis
Quotes
The BRENT CRUDE OIL rating is 82.56 USD. On the day, this instrument gained +0.43% and was between 82.30 USD and 82.64 USD. This implies that the price is at +0.32% from its lowest and at -0.10% from its highest.82.30
82.64
82.56
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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 bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend is reinforced 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.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bearish signals that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 81.23 | 81.72 | 82.07 | 82.56 | 82.74 | 83.14 | 83.47 |
| Change (%) | -1.61% | -1.02% | -0.59% | - | +0.22% | +0.70% | +1.10% |
| Change | -1.33 | -0.84 | -0.49 | - | +0.18 | +0.58 | +0.91 |
| Level | Major | Intermediate | Minor | - | Minor | Minor | Minor |
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 | 79.63 | 80.36 | 81.28 | 82.01 | 82.93 | 83.66 | 84.58 |
| Camarilla | 81.76 | 81.91 | 82.06 | 82.21 | 82.36 | 82.51 | 82.66 |
| Woodie | 79.74 | 80.41 | 81.39 | 82.06 | 83.04 | 83.71 | 84.69 |
| Fibonacci | 80.36 | 80.99 | 81.38 | 82.01 | 82.64 | 83.03 | 83.66 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.81 | 80.26 | 81.17 | 82.62 | 83.53 | 84.98 | 85.89 |
| Camarilla | 81.43 | 81.65 | 81.86 | 82.08 | 82.30 | 82.51 | 82.73 |
| Woodie | 78.54 | 80.13 | 80.90 | 82.49 | 83.26 | 84.85 | 85.62 |
| Fibonacci | 80.26 | 81.16 | 81.72 | 82.62 | 83.52 | 84.08 | 84.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.62 | 72.72 | 78.14 | 81.24 | 86.66 | 89.76 | 95.18 |
| Camarilla | 81.21 | 81.99 | 82.77 | 83.55 | 84.33 | 85.11 | 85.89 |
| Woodie | 70.77 | 73.30 | 79.29 | 81.82 | 87.81 | 90.34 | 96.33 |
| Fibonacci | 72.72 | 75.98 | 77.99 | 81.24 | 84.50 | 86.51 | 89.76 |
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): | 58.93 | |
| MACD (12,26,9): | 0.1100 | |
| Directional Movement: | 4.71 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 82.46 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.80 | |
| Elder Ray (13): | 0.17 | |
| Super Trend (3,10): | 81.91 | |
| Zig ZAG (10): | 82.62 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 83.26 | |
| TEMA (21): | 82.62 | |
| Williams %R (14): | -10.45 | |
| Chande Momentum Oscillator (20): | 0.19 | |
| Repulse (5,40,3): | 0.0500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 1.08 |
| MA7: | 82.52 | |
| MA20: | 82.27 | |
| MA50: | 79.92 | |
| MA100: | 79.48 | |
| MAexp7: | 82.49 | |
| MAexp20: | 82.35 | |
| MAexp50: | 82.34 | |
| MAexp100: | 82.44 | |
| Price / MA7: | +0.05% | |
| Price / MA20: | +0.35% | |
| Price / MA50: | +3.30% | |
| Price / MA100: | +3.88% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.26% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.15% |
Quotes :
-
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:
-
Trading volatility: Brent around OPEC meeting
-
'FASTEN YOUR SEATBELTS': Brent Bozell warns of Alex Soros' Open Society Foundations takeover
-
It's 'increasingly likely' the missing submersible imploded: Brent Sadler
-
Trade of the Week: Short Brent crude
-
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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