Brent (CO1) Up $1.08 On 4 Hour Chart, Breaks Below 20 Day Average; Pin Bar and Evening Star Patterns Appearing on Chart

Brent 4 Hour Price Update

Updated September 21, 2020 12:50 AM GMT (08:50 PM EST)

Brent came into the current 4 hour candle up 2.56% ($1.08) from the open of the previous 4 hours, marking the 3rd consecutive candle it has gone up. 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 previous 4 hours.

Brent Daily Price Recap

Brent is down 0.67% ($0.29) since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 5th for the day in terms of price change relative to the day prior. The daily price chart of Brent below illustrates.

CO1

Brent Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Brent crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar and evening star patterns appearing here.


“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