Brent (CO1) Down $0.1 Over Past 4 Hours, Entered Today Up 0.45%; Pin Bar Pattern Appearing on Chart

Brent 4 Hour Price Update

Updated December 30, 2020 01:52 AM GMT (09:52 PM EST)

50.01 was the closing price of the four-hour candle for Brent, resulting in the current 4 hour candle being one in which price moved down 0.2% ($0.1) from 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

The choppiness in the recent daily price action of Brent continues; to start today, it came in at a price of 51.09 US dollars, up 0.45% ($0.23) since yesterday. Relative to other instruments in the energy commodity asset class, Brent ranked 5th since yesterday in terms of percentage price change. Below is a daily price chart of Brent.

CO1

Brent Technical Analysis

Coming into today 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. Volatility for Brent has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Brent’s price has gone up 7 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!