Brent 4 Hour Price Update
Updated July 23, 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 is up 2.16% ($1.56) since the previous day, marking the 3rd straight day an increase has occurred. 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 previous day. The daily price chart of Brent below illustrates.
Brent Technical Analysis
The first thing we should note is that Brent is now close to its 20 and 50 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. Or to view things another way, note that out of the past 10 days Brent’s price has gone up 6 them.