Brent 4 Hour Price Update
Updated September 14, 2020 12:50 AM GMT (08:50 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 40.06 US dollars, down 1.79% ($0.73) since the previous 4 hours. Brent outperformed all 6 assets in the energy commodity asset class since the previous 4 hours. Congrats to its holders!
Brent Daily Price Recap
Brent came into today down 0.57% ($0.23) from the open of the day prior, marking the 2nd consecutive day a decline has happened. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 5th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Brent.
Brent Technical Analysis
First things first: Brent crossed below 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 30 days Brent’s price has gone down 18 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
“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