After four days of going down, Brent crude is flat today, hovering around $81.34

Although Brent crude ended yesterday strong and rose from $81.1 to $82.04, it dropped back today and is now priced at $81.34 per barrel.

ICE Brent crude is currently trading at $81.34 following the release of Services PMI data from the United States.

This uncertain state for ICE Brent crude is reflected by published market data as United States Services PMI released today at 13:45 UTC with a figure of 53.7, while the previous figure was 52.6. United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million. United States Philadelphia Fed Manufacturing Index (Apr) came out at -31.3, while a consensus of analysts was expecting -19.2.

Brent Crude Oil's upper Bollinger Band® is at $88.59 and the lower is $79.22. Brent crude is approaching key support, around $1.31 away from $80.03. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite muted price action in Brent crude oil, chart analysis indicates it is positioned for a bullish run in the short term.

Meanwhile, mixed performances are seen in other Energy as Crude Oil moves 0.36% to trade around $77.65.

Brent crude reached a significant high of $123.6 around 10 months ago but has lost 34.39% since then.