Brent 4 Hour Price Update
Updated April 01, 2021 01:52 AM GMT (09:52 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. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the last 4 hour candle in terms of percentage price change.
Brent Daily Price Recap
Brent closed yesterday down 2.23% ($1.43); this denotes the 2nd day in a row it has gone down. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 5th for the day in terms of price change relative to yesterday. Here is a daily price chart of Brent.
Brent Technical Analysis
Notably, Brent crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Brent’s price has gone up 5 of the previous 10 trading days.