Brent 4 Hour Price Update
Updated September 09, 2020 12:50 AM GMT (08:50 PM EST)
Brent is down 3.2% ($1.41) since the previous 4 hours, marking the 3rd consecutive candle it has gone down. 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 came into today down 5.31% ($2.23) from the open of yesterday, marking the 5th straight day it has gone down. 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 yesterday. Here is a daily price chart of Brent.
Brent Technical Analysis
Notably, Brent is now close to its 100 day averages, located at 39.3 respectively, and thus may be at a key juncture along those timeframes. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 8 out of the past 10 days.
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