ICE Brent crude continued its four days losing streak, dropping by 86 cents, closing at $74.14

Friday at a glance: down on the day: Brent crude oil closed at $74.14 per barrel after ranging between $74.03 and $75.84.

Although Brent Crude Oil is down today and was as low as $74.03, it seems to be recovering slightly and climbing away from the $73.55 support line and is now 59 cents above it. Despite being in the red so far in the current trading session, ICE Brent crude peaked above its 10 day Simple Moving Average around $75.6 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $71.24, a low enough level to, generally, suggest that ICE Brent crude is trading below its fair value.

Overall, looking at the technical analysis landscape, it seems Brent crude oil —which is currently on a downtrend— might reverse course and start pointing upward in the short term.

Brent crude's value drop coincided with the fact that Heating Oil draws back 2.03% Friday and closed at $2.35. Crude Oil lost 1.1% Friday and closed at $70.87.

Though Brent crude oil has been dropping, other Energy have been performing better: notably, Natural Gas rose 4% Friday and closed at $2.19.

After hitting an important low of $72 approximately 11 days ago, Brent crude oil has bounced back 4.15% since.