BRENT OIL ETC (BRENT.MI) Stock Technical Analysis
BIT:BRENT - Euronext Milan - XS2691037282 - ETF - Currency: EUR
We assign a technical rating of 3 out of 10 to BRENT. In the last year, BRENT was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.
BRENT has a poor technical rating and the quality of the setup is also only medium 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.
More info and screens
12.59
We found 1 important support 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.
When analyzing the resistance we notice one important area.
- Resistance @13.68 from a horizontal line in the daily time frame.
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 | NEGATIVE | The current price of BRENT.MI is below a declining SMA(20). |
| Relative Strength Index/RSI (14) | 34.53 | NEUTRAL | The RSI value for BRENT.MI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.63 | NEGATIVE | The MACD value suggests BRENT.MI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 9.43 | OVERSOLD | The low Stochastics value suggests BRENT.MI may be oversold. |
| Average True Range in percent/ATR (20) | 4.61 | MEDIUM VOLATILITY | The ATR as a percentage value for BRENT.MI suggests some volalility. |
| Average Directional Index/ADX (14) | 21.81 | NEUTRAL | The ADX value for BRENT.MI suggests a possible start of a new trend. |
BIT:BRENT (5/30/2025, 7:00:00 PM)
12.756
-0.18 (-1.39%)