Brent (CO1) Down $0.1 Over Past 4 Hours, Entered Today Up 1.06%; Price Base in Formation Over Past 30 Days

Brent 4 Hour Price Update

Updated July 21, 2021 01:53 AM GMT (09:53 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 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

69.35 was the closing price of the day for Brent, resulting in today being one in which price moved up 1.06% ($0.73) from the day prior. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the day prior in terms of percentage price change. Below is a daily price chart of Brent.


Brent Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Brent crossed above its 100 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. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. 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. For another vantage point, consider that Brent’s price has gone up 8 of the previous 14 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!