Brent 4 Hour Price Update
Updated July 08, 2021 01:53 AM GMT (09:53 PM EST)
The back and forth price flow continues for Brent, which started the current 4 hour candle off at 50.01 US dollars, down 0.2% ($0.1) from the previous 4 hours. Out of the 6 instruments in the energy commodity asset class, Brent ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.
Brent Daily Price Recap
Brent came into today down 1.48% ($1.1) from the open of the previous day, marking the 2nd straight day a decline has happened. Relative to other instruments in the energy commodity asset class, Brent ranked 4th since the previous day in terms of percentage price change. Here is a daily price chart of Brent.
Brent Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Brent crossed below its 20 day moving average yesterday. Volatility for Brent has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.