Brent 4 Hour Price Update
Updated April 26, 2021 01:52 AM GMT (09:52 PM EST)
The choppiness in the recent four-hour candle price action of Brent continues; to start the current 4 hour candle, it came in at a price of 50.01 US dollars, down 0.2% ($0.1) since 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
Brent closed the previous day up 1.09% ($0.71); this denotes the 2nd straight 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 previous day. Let’s take a look at the daily price chart of Brent.
Brent Technical Analysis
The first thing we should note is that the current price of Brent is sitting close to its 20 and 50 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 14 day horizon; over that time period, price has been moving up. 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. Or to view things another way, note that out of the past 14 days Brent’s price has gone up 10 them.