Brent 4 Hour Price Update
Updated March 24, 2021 01:53 AM GMT (09:53 PM EST)
The choppiness in the recent four-hour candle price action of Brent continues; to start the current 4 hour candle, it came in at a price of 50.01 US dollars, down 0.2% ($0.1) since the previous 4 hours. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the previous 4 hours in terms of percentage price change.
Brent Daily Price Recap
60.79 was the closing price of the day for Brent, resulting in today being one in which price moved down 5.93% ($3.83) from the previous day. Relative to other instruments in the energy commodity asset class, Brent ranked 5th since the previous day in terms of percentage price change. Below is a daily price chart of Brent.
Brent Technical Analysis
First things first: Brent crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Brent’s price has gone down 6 of the previous 10 trading days. Also, candlestick traders! Note we see evening star pattern appearing here as well.