BRENT OIL ETC (BRENT.MI) Stock Technical Analysis
BIT:BRENT - Euronext Milan - XS2691037282 - ETF - Currency: EUR
Taking everything into account, BRENT scores 3 out of 10 in our technical rating. BRENT performed below average in the overall market. Although the medium term picture in unclear, the short term picture is clearly negative.
BRENT has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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12.59
When analyzing the support we notice one important area.
- A support zone ranging from 12.72 to 12.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- Resistance @14.54 from a trend line in the daily time frame.
- A resistance zone ranging from 14.96 to 15.18. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BRENT.MI is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BRENT.MI is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | BRENT.MI has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BRENT.MI is above a declining SMA(20). |
| Relative Strength Index/RSI (14) | 48.77 | NEUTRAL | The RSI value for BRENT.MI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.23 | NEGATIVE | The MACD value suggests BRENT.MI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 24.05 | NEUTRAL | The Stochastics value for BRENT.MI is a neutral value. |
| Average True Range in percent/ATR (20) | 5.35 | HIGH VOLATILITY | The high ATR as a percentage value for BRENT.MI suggests high volalility. |
| Average Directional Index/ADX (14) | 20.51 | NEUTRAL | The ADX value for BRENT.MI suggests a possible start of a new trend. |
BIT:BRENT (7/18/2025, 7:00:00 PM)
14.028
-0.02 (-0.17%)