Brent 4 Hour Price Update
Updated July 22, 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. 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 previous 4 hours.
Brent Daily Price Recap
Brent closed the day prior up 4.15% ($2.88); this denotes the 2nd consecutive day an upward move has occurred. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 2nd for the day in terms of price change relative to the day prior. The daily price chart of Brent below illustrates.
Brent Technical Analysis
Notably, Brent crossed above 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. 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. For another vantage point, consider that Brent’s price has gone up 20 of the previous 30 trading days.