Brent (CO1) Heads Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

Brent Daily Price Recap

Brent came into today up 0.93% ($0.26) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. 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. Below is a daily price chart of Brent.

Brent Technical Analysis

Notably, Brent is now close to its 20 day averages, located at 28.45 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 down. For additional context, note that price has gone up 5 out of the past 10 days.