Brent (CO1) Down $0.1 Over Past 4 Hours, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Brent 4 Hour Price Update

Updated March 30, 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. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the previous 4 hours in terms of percentage price change.

Brent Daily Price Recap

Brent closed yesterday up 0.63% ($0.41); this denotes the 2nd consecutive day an upward move has occurred. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since yesterday in terms of percentage price change. Below is a daily price chart of Brent.

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Brent Technical Analysis

Coming into today Brent is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. 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. Or to view things another way, note that out of the past 30 days Brent’s price has gone up 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!