Brent (CO1) Up 0.52%; in a Downtrend Over Past 90 Days
Out of the 6 instruments in the energy commodity asset class, brent ended up ranking 4th for the day in terms of price change relative to the previous day.
Brent
(Last Updated February 24, 2021)
Welcome to the news page for Brent (CO1). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
The Trend
On CO1, there is currently an uptrend on the 90, 30 and 14 day timeframes.
CO1 Moving Averages
Across several time periods between 20 and 200 days, the trend on CO1 has remained consistently bullish.
The chart below illustrates.
The View From the Weekly Timeframe
Currently, CO1’s price is up $2.46 (3.91%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as CO1 has now gone up 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. 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.
Brent (CO1) Heads Up For the 2nd Day In A Row, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
For another vantage point, consider that brent’s price has gone up 5 of the previous 10 trading days.
Brent (CO1) 2 Day Down Streak Ended, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Brent (CO1) Down 24.4%; in a Downtrend Over Past 90 Days
Relative to other instruments in the energy commodity asset class, brent ranked 5th since the day prior in terms of percentage price change.
Brent (CO1) Down 8.94%, in a Downtrend Over Past 90 Days; Price Base in Formation Over Past 14 Days
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Brent (CO1) Heads Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days
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.
Brent (CO1) 2 Day Down Streak Broken, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
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.
Brent (CO1) Down 6.45%, Crosses 20 Day Moving Average; in a Downtrend Over Past 90 Days
Relative to other instruments in the energy commodity asset class, brent ranked 5th since the previous day in terms of percentage price change.
Brent (CO1) Down 6.74%; in a Downtrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe.
Brent (CO1) Up 0.83%; in a Downtrend Over Past 90 Days
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.