Brent 4 Hour Price Update
Updated September 10, 2020 12:50 AM GMT (08:50 PM EST)
Brent closed the last 4 hour candle down 5.31% ($2.23); this denotes the 5th candle in a row a decrease has occurred. Relative to other instruments in the energy commodity asset class, Brent ranked 3rd since the last 4 hour candle in terms of percentage price change.
Brent Daily Price Recap
Brent is up 1.96% ($0.78) since the day prior, marking a reversal from the day prior — and the end of a 5 day negative run. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the day prior in terms of percentage price change. Here is a daily price chart of Brent.
Brent Technical Analysis
The first thing we should note is that Brent is now close to its 100 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 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Brent’s price has gone down 17 of the previous 30 trading 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