Brent (CO1) Down $0.1 in Last 4 Hours, Started Today Up 5.95%; But Still in a Downtrend Over Past 14 Days

Brent 4 Hour Price Update

Updated March 25, 2021 01:54 AM GMT (09:54 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. 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 last 4 hour candle.

Brent Daily Price Recap

64.41 was the closing price of the day for Brent, resulting in today being one in which price moved up 5.95% ($3.62) from the day prior. Brent outperformed all 6 assets in the energy commodity asset class since the day prior. Congrats to its holders! The daily price chart of Brent below illustrates.

CO1

Brent Technical Analysis

Notably, Brent crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 10 days Brent’s price has gone down 6 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 90 and 14 day time periods.