Brent 4 Hour Price Update
Updated May 24, 2021 01:54 AM GMT (09:54 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
The end of a 3 day negative run has come for Brent, which finished the day prior up 2.04% ($1.33). Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 2nd for the day in terms of price change relative to the day prior. Below is a daily price chart of Brent.
Brent Technical Analysis
First things first: Brent crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Brent’s price has gone up 20 of the previous 30 trading days.