(Last Updated March 16, 2021)
Hello! This is the news page for Brent. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for CO1.
CO1’s moving averages suggest the trend on a number of time horizons is bullish.
The chart below illustrates.
Currently, CO1’s price is down $-0.34 (-0.49%) from the week prior. Moreover, note that this is the 2nd week in a row CO1 has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CO1. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows CO1’s price action over the past year.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe.
Relative to other instruments in the energy commodity asset class, brent ranked 5th since the previous day in terms of percentage price change.
Relative to other instruments in the energy commodity asset class, brent ranked 4th since the previous day in terms of percentage price change.
Relative to other instruments in the energy commodity asset class, brent ranked 5th since yesterday in terms of percentage price change.
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 the previous day.
Relative to other instruments in the energy commodity asset class, brent ranked 4th since the day prior in terms of percentage price change.
For another vantage point, consider that brent’s price has gone down 8 of the previous 14 trading days.