Brent (CO1) Down $1.41 On 4 Hour Chart; Entered Today Down 5.31%

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.

“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