Brent (CO1) Down $0.1 Over Past 4 Hours, Started Today Up 0.35%; Pin Bar Pattern Appearing on Chart

Brent 4 Hour Price Update

Updated July 29, 2021 01:52 AM GMT (09:52 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. 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 entered today at $74.74, up 0.35% ($0.26) 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. The daily price chart of Brent below illustrates.

CO1

Brent Technical Analysis

Notably, the current price of Brent is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For another vantage point, consider that Brent’s price has gone up 7 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.