Brent (CO1) Down $0.1 On 4 Hour Chart, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days

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.

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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.