Brent 4 Hour Price Update
Updated September 16, 2020 12:50 AM GMT (08:50 PM EST)
Brent is down 0.55% ($0.22) since the last 4 hour candle, marking the 3rd candle in a row a decline has happened. On a relative basis, Brent was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.
Brent Daily Price Recap
The choppiness in the recent daily price action of Brent continues; to start today, it came in at a price of 40.66 US dollars, up 2.47% ($0.98) since yesterday. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 2nd for the day in terms of price change relative to yesterday. Let’s take a look at the 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Brent’s price has gone down 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram