Brent 4 Hour Price Update
Updated September 17, 2020 12:50 AM GMT (08:50 PM EST)
Brent’s 3 four-hour candle negative streak has officially concluded, as the candle from the last 4 hour candle closed up 2.32% ($0.92). Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 3rd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Brent Daily Price Recap
Brent closed yesterday up 4.17% ($1.69); this denotes the 2nd day in a row an upward move has occurred. Relative to other instruments in the energy commodity asset class, Brent ranked 3rd since yesterday in terms of percentage price change. The daily price chart of Brent below illustrates.
Brent Technical Analysis
Notably, the current price of Brent is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 30 days Brent’s price has gone down 19 them.
“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