Brent (CO1) 2 Day Down Streak Broken, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Brent Daily Price Recap

The back and forth price flow continues for Brent, which started today off at 27.82 US dollars, up 0.47% ($0.13) from yesterday. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 3rd for the day in terms of price change relative to yesterday. Here is a daily price chart of Brent.

Brent Technical Analysis

Notably, Brent is now close to its 20 day averages, located at 28.47 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!