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 10/04/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

56%

44%

My opinion

Bullish above 77.25 USD

My targets

79.78 USD (+2.09%)

81.01 USD (+3.67%)

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 77.25 USD. The next resistance located at 79.78 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 81.01 USD. After this resistance, buyers could then target 82.64 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

7.9

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 gaganiva. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BRENT CRUDE OIL rating is 78.14 USD. On the day, this instrument gained +0.67% and was between 77.39 USD and 79.00 USD. This implies that the price is at +0.97% from its lowest and at -1.09% from its highest.

77.39

79.00

78.14

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Opening Gap UP

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:

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

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of BRENT CRUDE OIL in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour

In fact, 10 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

MACD indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

MACD crosses DOWN its Moving Average

Type : Bearish

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	74.85	75.57	77.25	78.14	81.01	82.64	86.21
Change (%)	-4.21%	-3.29%	-1.14%	-	+3.67%	+5.76%	+10.33%
Change	-3.29	-2.57	-0.89	-	+2.87	+4.50	+8.07
Level	Major	Minor	Minor	-	Intermediate	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	71.64	72.97	75.30	76.63	78.96	80.29	82.62
Camarilla	76.61	76.95	77.29	77.62	77.96	78.29	78.63
Woodie	72.13	73.22	75.79	76.88	79.45	80.54	83.11
Fibonacci	72.97	74.37	75.24	76.63	78.03	78.90	80.29

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	64.48	67.47	69.58	72.57	74.68	77.67	79.78
Camarilla	70.28	70.75	71.21	71.68	72.15	72.62	73.08
Woodie	64.03	67.25	69.13	72.35	74.23	77.45	79.33
Fibonacci	67.47	69.42	70.63	72.57	74.52	75.73	77.67

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	59.94	64.17	68.86	73.09	77.78	82.01	86.70
Camarilla	71.11	71.93	72.74	73.56	74.38	75.20	76.01
Woodie	60.18	64.29	69.10	73.21	78.02	82.13	86.94
Fibonacci	64.17	67.57	69.68	73.09	76.49	78.60	82.01

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):	72.40
MACD (12,26,9):	0.7200
Directional Movement:	24.88
AROON (14):	28.57
DEMA (21):	78.67
Parabolic SAR (0,02-0,02-0,2):	77.73
Elder Ray (13):	0.60
Super Trend (3,10):	77.48
Zig ZAG (10):	78.62
VORTEX (21):	1.3400
Stochastique (14,3,5):	78.88
TEMA (21):	78.77
Williams %R (14):	-22.36
Chande Momentum Oscillator (20):	0.83
Repulse (5,40,3):	0.1400
ROCnROLL:	1
TRIX (15,9):	0.1400
Courbe Coppock:	2.02

MA7:	74.03
MA20:	73.09
MA50:	75.30
MA100:	78.10
MAexp7:	78.33
MAexp20:	77.70
MAexp50:	76.41
MAexp100:	75.19
Price / MA7:	+5.55%
Price / MA20:	+6.91%
Price / MA50:	+3.77%
Price / MA100:	+0.05%
Price / MAexp7:	-0.24%
Price / MAexp20:	+0.57%
Price / MAexp50:	+2.26%
Price / MAexp100:	+3.92%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on BRENT CRUDE OIL at the time of the generation of this analysis was as follows:

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

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