Brent 4 Hour Price Update
Updated May 31, 2021 01:53 AM GMT (09:53 PM EST)
The back and forth price flow continues for Brent, which started the current 4 hour candle off at 50.01 US dollars, 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
The end of a 5 day positive run has come for Brent, which finished the previous day down 0.69% ($0.48). Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 3rd for the day in terms of price change relative to the previous day. The daily price chart of Brent below illustrates.
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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Brent’s price has gone up 9 of the previous 14 trading days.