Brent (CO1) Down $0.1 On 4 Hour Chart, 2 Day Up Streak Snapped; in an Uptrend Over Past 30 Days

Brent 4 Hour Price Update

Updated December 29, 2020 01:52 AM GMT (09:52 PM EST)

50.01 was the closing price of the four-hour candle for Brent, resulting in the current 4 hour candle being one in which price moved 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

The back and forth price flow continues for Brent, which started today off at 50.86 US dollars, down 0.84% ($0.43) from the day prior. 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 day prior. Here is a daily price chart of Brent.

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Brent Technical Analysis

Notably, Brent is now close to its 20 day averages, located at 49.91 respectively, and thus may be at a key juncture along those timeframes. Volatility for Brent has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Brent’s price has gone up 20 of the previous 30 trading days.