Brent (CO1) Down $0.1 in Last 4 Hours, Entered Today Down 0.7%; Price Base in Formation Over Past 30 Days

Brent 4 Hour Price Update

Updated April 27, 2021 01:53 AM GMT (09:53 PM EST)

Brent entered the current 4 hour candle at $50.01, down 0.2% ($0.1) from the last 4 hour candle. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.

Brent Daily Price Recap

The choppiness in the recent daily price action of Brent continues; to start today, it came in at a price of 65.65 US dollars, down 0.7% ($0.46) since yesterday. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 5th for the day in terms of price change relative to yesterday. Below is a daily price chart of Brent.

CO1

Brent Technical Analysis

Notably, Brent is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 9 out of the past 14 days.