Brent 4 Hour Price Update
Updated March 31, 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 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
Brent entered today at $64.14, down 1.29% ($0.84) from the previous day. 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 the previous day. Here is a daily price chart of Brent.
Brent Technical Analysis
Coming into today Brent is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. 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 5 out of the past 10 days.