Brent (CO1) Up 4.63%, in a Downtrend Over Past 90 Days; Nears 20 Day Moving Average
Relative to other instruments in the energy commodity asset class, brent ranked 2nd since the day prior in terms of percentage price change.
Brent
(Last Updated April 15, 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
A trend/countertrend situation exists on CO1, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
CO1 Moving Averages
The moving averages on CO1 summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, save for a drop that occurred about 3 weeks ago.
The chart below illustrates.
The View From the Weekly Timeframe
At the time of this writing, CO1’s price is up $3.63 (5.77%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. As for the trend on the weekly timeframe, we see the clearest trend on the 20 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) Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 90 Days
Relative to other instruments in the energy commodity asset class, brent ranked 2nd since yesterday in terms of percentage price change.
Brent (CO1) Heads Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
Relative to other instruments in the energy commodity asset class, brent ranked 3rd since yesterday in terms of percentage price change.
Brent (CO1) Up 2.35%; in a Downtrend Over Past 14 Days
Out of the 6 instruments in the energy commodity asset class, brent ended up ranking 2nd for the day in terms of price change relative to the day prior.
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 (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.