Brent (CO1) Down $0.1 in Last 4 Hours, Entered Today Up For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Brent 4 Hour Price Update

Updated December 31, 2020 01:52 AM GMT (09:52 PM EST)

50.01 was the closing price of the four-hour candle for Brent, resulting in the current 4 hour candle being one in which price moved down 0.2% ($0.1) from the last 4 hour candle. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the last 4 hour candle in terms of percentage price change.

Brent Daily Price Recap

Brent closed yesterday up 0.49% ($0.25); this denotes the 2nd consecutive day an increase has occurred. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 4th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Brent.


Brent Technical Analysis

Coming into today Brent is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Brent has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Brent’s price has gone up 10 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.