Brent Crude NYMEX (BZ.FUT)

Close: 87.48 (+1.39), Mar 28, 2024
Positive

chart Brent Crude NYMEX (BZ) Candlesticks 22 Days
Candlesticks
chart Brent Crude NYMEX (BZ) Short term
Short term: Positive
chart Brent Crude NYMEX (BZ) Medium term
Medium term: Positive
chart Brent Crude NYMEX (BZ) Long term
Long term: Hold
chart Brent Crude NYMEX (BZ)
RSI - Relative Strength Index

Short term

Investors have paid higher prices over time to buy Brent Crude NYMEX and the future is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 83.70. The objective at 85.78 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the future has support at approximately 83.60 . RSI above 70 shows that the future has strong positive momentum in the short term. Investors have steadily paid more to buy the future, which indicates increasing optimism and that the price will continue to rise. The future is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 88)

Medium term

Brent Crude NYMEX is within an approximate horizontal trend channel in the medium long term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The future is moving within a rectangle formation between support at 72.40 and resistance at 103. A decisive break through one of these levels indicates the new direction for the future. The future has marginally broken up through resistance at 87.20. An established break predicts a further rise. Volume has previously been low at price tops and high at price bottoms. This weakens the future and indicates increased chance of a break down. The future is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive (Score: 52)

Long term

Brent Crude NYMEX is within an approximate horizontal trend channel in the long term, which indicates further development in the same direction. The future has support at 74.00 and resistance at 127. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the future and indicates increased chance of a break up. The future is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold (Score: 12)


Overall analysis

Brent Crude NYMEX is technically positive for the short and medium term, and neutral for the long term.

Recommendation one to six months: Positive (Score: 70)

Period  
Vol.bal. Volatility Liquidity +/- %
1 day-1.58%0.04+1.61%
5 days-45.155.27%0.82+1.98%
22 days-14.9612.76%2.03+4.58%
66 days-11.3522.90%1.99+10.64%
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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