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 12/06/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

61%

22%

My opinion

Bearish under 71.52 USD

My targets

70.46 USD (-0.80%)

68.14 USD (-4.07%)

My analysis

BRENT CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 71.52 USD. The next support located at 70.46 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 68.14 USD. Below this support, sellers could then target 59.70 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

7.5

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

Additional analysis

Quotes

BRENT CRUDE OIL rating 71.03 USD. On the day, this instrument lost -1.47% with the lowest point at 70.83 USD and the highest point at 72.23 USD. The deviation from the price is +0.28% for the low point and -1.66% for the high point.

70.83

72.23

71.03

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

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, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of BRENT CRUDE OIL indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	59.70	68.14	70.46	71.03	71.52	71.80	72.15
Change (%)	-15.95%	-4.07%	-0.80%	-	+0.69%	+1.08%	+1.58%
Change	-11.33	-2.89	-0.57	-	+0.49	+0.77	+1.12
Level	Major	Major	Intermediate	-	Intermediate	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	70.53	71.16	71.63	72.26	72.73	73.36	73.83
Camarilla	71.79	71.89	71.99	72.09	72.19	72.29	72.39
Woodie	70.44	71.12	71.54	72.22	72.64	73.32	73.74
Fibonacci	71.16	71.58	71.84	72.26	72.68	72.94	73.36

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	67.50	69.55	70.69	72.74	73.88	75.93	77.07
Camarilla	70.96	71.26	71.55	71.84	72.13	72.43	72.72
Woodie	67.06	69.32	70.25	72.51	73.44	75.70	76.63
Fibonacci	69.55	70.77	71.52	72.74	73.96	74.71	75.93

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	63.91	67.04	69.44	72.57	74.97	78.10	80.50
Camarilla	70.32	70.83	71.33	71.84	72.35	72.85	73.36
Woodie	63.55	66.86	69.08	72.39	74.61	77.92	80.14
Fibonacci	67.04	69.15	70.46	72.57	74.68	75.99	78.10

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):	32.76
MACD (12,26,9):	-0.3000
Directional Movement:	-14.95
AROON (14):	-64.29
DEMA (21):	71.19
Parabolic SAR (0,02-0,02-0,2):	71.54
Elder Ray (13):	-0.19
Super Trend (3,10):	71.90
Zig ZAG (10):	71.05
VORTEX (21):	0.7800
Stochastique (14,3,5):	33.84
TEMA (21):	71.11
Williams %R (14):	-83.21
Chande Momentum Oscillator (20):	-0.80
Repulse (5,40,3):	-0.5200
ROCnROLL:	2
TRIX (15,9):	-0.0600
Courbe Coppock:	2.06

MA7:	72.19
MA20:	72.27
MA50:	73.47
MA100:	74.14
MAexp7:	71.29
MAexp20:	71.58
MAexp50:	72.04
MAexp100:	72.35
Price / MA7:	-1.61%
Price / MA20:	-1.72%
Price / MA50:	-3.32%
Price / MA100:	-4.19%
Price / MAexp7:	-0.36%
Price / MAexp20:	-0.77%
Price / MAexp50:	-1.40%
Price / MAexp100:	-1.82%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on BRENT CRUDE OIL at the time of the analysis were as follows:

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

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