Brent (CO1) Down $0.1 Over Past 4 Hours, Moves Up For the 3rd Straight Day; Pin Bar Pattern Appearing on Chart

Brent 4 Hour Price Update

Updated February 17, 2021 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. 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 the day prior up 0.08% ($0.05); this denotes the 3rd straight day it has gone up. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 3rd for the day in terms of price change relative to the day prior. Below is a daily price chart of Brent.

CO1

Brent Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.