Understanding the OPEC Brent Crude Oil trend accelerating lower
|OPEC Brent Crude Oil has been accelerating lower in the short term and decelerating lower in the long term. Over the past 29 days, the OPEC Brent Crude Oil price increased 14 days and decreased 15 Days. With the last price trading at $ 96.03, where does OPEC Brent Crude Oil go from here?
Key Takeaways:
- Price today $ 96.03
- Over the past 29 days, the CRUDE price increased 14 days and decreased 15 Days.
- For every up day, there were 1.07 down days.
- The average return on days where the price increased is 1.5539%
- The average return on days where the price decreased is -1.7523%
- Over the past 29 Days, the price has decreased by -4.96% percent.
- Over the past 29 days, the average return per day has been -0.171% percent.
- Over the past 29 days, The price has on average been decelerating: $ 0.0089 dollars per day lower
- Over the last session, the price decreased by $ -3.10
- Over the last session, the price decreased by -3.2282 %
- Over the last session, the price accelerated by $ 1.40
Price Summary
Price Changes
Over the past 29 Days, the price has decreased by -4.96% percent.
Over the past 29 days, the CRUDE trend has been decelerating lower
Over the past session, the short term CRUDE trend has been accelerating lower
Since the last session, the price decreased $ 3.10
Over the past 29 days, the price decreased by $ -5.01
Acceleration
Over the last session, the price has accelerated $ 1.40
Since the start of the dataset, the price has on average been decelerating 0.0089 dollars per day
Market Skew
Over the past 29 days, the CRUDE price increased 14 days and decreased 15 Days. For every up day, there were 1.07 down days.
The average return on days where the price increased is 1.5539%.
The average return on days where the price decreased is -1.7523%.
Expected Range
Overnight, our worst case scenario where we are 95% certain that this level won't trade for CRUDE, is $ 94.0793 , and the best case scenario overnight is $ 97.9807 . levels outside of this range are unlikely, but still possible to trade.
We are 50% confident that $ 95.3643 could trade and that $ 96.6961 could trade. These levels are within statistical probability presuming that markets remain as volatile as they have been over the past two weeks.
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