Brent (CO1) Down $0.1 in Last 4 Hours, in an Uptrend Over Past 90 Days; Bearish Engulfing Pattern Present

Brent 4 Hour Price Update

Updated April 06, 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. 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 entered today at $62.15, down 4.18% ($2.71) from the previous day. 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 the previous day. Here is a daily price chart of Brent.

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Brent Technical Analysis

First things first: Brent crossed below 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 additional context, note that price has gone up 5 out of the past 10 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 day charts, may be slowing down and ready to reverse.