Brent 4 Hour Price Update
Updated March 26, 2021 01:53 AM GMT (09:53 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 previous 4 hours. 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 previous 4 hours.
Brent Daily Price Recap
61.95 was the closing price of the day for Brent, resulting in today being one in which price moved down 3.82% ($2.46) from yesterday. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since yesterday in terms of percentage price change. The daily price chart of Brent below illustrates.
Brent Technical Analysis
Moving average crossovers are always interesting, so let’s start there: 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 additional context, note that price has gone up 15 out of the past 30 days.