BNO United States Brent Oil Chart, History Price & Graph

Key Takeaways

• BNO remains in a strong multi-month uptrend, with price well above key longer-term moving averages like the 200-day SMA at 32.43, reflecting robust yearly gains of over 77%.
• Recent price action shows heightened volatility, with a sharp 10.28% drop to 48.02 on elevated volume of 8.8 million shares, testing near-term support around 46.00.
• Shorter-term moving averages signal sell (e.g., 10-day SMA at 51.87), while longer-term ones indicate buy (50-day SMA at 40.99), pointing to potential consolidation after rapid advances.
• RSI(14) at approximately 37 suggests oversold conditions, with MACD showing bearish divergence, hinting at possible short-term rebound.
• Key resistance cluster near 52.00-55.00 (recent highs and 52-week peak at 55.66); support at 46.00-47.00 pivot zones.

Trend Analysis

The chart of the United States Brent Oil Fund (BNO), which tracks Brent crude oil futures, displays a dominant multi-month uptrend. Price has surged from 52-week lows near 24.72 to highs above 55.66, posting yearly gains exceeding 77%. Despite a recent pullback from peaks around 55.00, BNO holds well above its 200-day SMA at 32.43 and 100-day SMA at 34.97, confirming the long-term bullish structure. Shorter-term, the ETF has entered consolidation after three consecutive up days earlier in the week, with price fluctuating in a wide rising channel. This uptrend aligns with broader energy sector momentum, though recent downside has introduced caution.

Support and Resistance Levels

Pivot analysis highlights critical zones: classic pivots show immediate support at S1 47.20, S2 46.65, and S3 46.31, with resistance at R1 48.09, R2 48.43, and R3 48.98. Fibonacci levels reinforce S1 at 47.20 and R1 at 47.88. Near-term resistance looms at the 20-day SMA of 50.54 and prior highs near 52.14 (prior 20-day MA). A breakdown below 46.00 could eye deeper support near the 50-day SMA at 40.99, while a reclaim above 52.00 targets the 52-week high of 55.66. These levels mark supply/demand zones where prior price action has reversed.

Moving Averages

Moving averages present a mixed picture reflective of the recent volatility. Short-term EMAs (10-day at 51.41, 20-day at 49.37) and SMAs signal sell, as price dips below these levels post-pullback. However, intermediate and longer-term averages are firmly bullish: 50-day SMA at 40.99 (buy), 100-day at 34.97 (buy), and 200-day SMA at 32.43 (buy). Price remains above the Ichimoku baseline at 46.49 (neutral), supporting the overarching uptrend. A crossover back above the 20-day SMA would reinforce bullish momentum.

Momentum Indicators

RSI(14) has declined to 33-37 range, entering oversold territory and signaling potential exhaustion in the recent selloff. STOCH(9,6) at 19 indicates oversold conditions, while MACD(12,26) at -1.64 with a sell signal reflects waning momentum. CCI(14) at -59 and Williams %R at -76 further confirm short-term weakness. Despite these bearish readings, the neutral-to-buy oscillators summary on broader timeframes suggests the pullback may be corrective within the uptrend.

Volume and Market Activity

Trading volume spiked to 8.8 million shares during the 10% decline—nearly double the average of 4.6 million—indicating strong participation in the downside move. Elevated volume on pullbacks often precedes continuations or reversals; here, it underscores the volatility tied to oil market dynamics. Prior uptrend legs saw rising volume, supporting conviction in the bullish bias.

AI Daily Buy/Sell Signals

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Technical Outlook and Key Levels to Watch

Traders eye a potential rebound from oversold levels toward 50.00-52.00 resistance if support at 46.00-47.00 holds. A break above 48.98 (R3 pivot) could signal trend resumption targeting 55.66 highs. Conversely, failure at 46.65 may test 40.99 (50-day SMA). Monitor RSI for divergence, MACD crossovers, and volume for confirmation. Volatility remains elevated, with ADX above 39 signaling strong trend potential despite short-term noise.

Disclaimer

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