Brent Daily Price Recap
35.75 was the closing price of the day for Brent, resulting in today being one in which price moved up 3.17% ($1.1) from yesterday. Brent outperformed all 6 assets in the energy commodity asset class since yesterday. Below is a daily price chart of Brent.
Brent Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For another vantage point, consider that Brent’s price has gone up 9 of the previous 14 trading days.