Brent (CO1) Down $0.1 On 4 Hour Chart, Entered Today Up For the 5th Consecutive Day; Price Base in Formation Over Past 14 Days

Brent 4 Hour Price Update

Updated May 28, 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 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 closed the day prior up 0.86% ($0.59); this denotes the 5th consecutive day it has gone up. 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. Here is a daily price chart of Brent.

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Brent Technical Analysis

Notably, the current price of Brent is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Price action traders in particular will want to note that the 14 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 20 out of the past 30 days.