Energy Commodities
Last Updated April 14, 2021 at 2:50 GMT
The instruments in the Energy asset class that made the biggest moves, on a percentage basis, over the past day were Natural Gas, Ethanol, and Crude Oil. The chart below illustrates. None of the moves in the past day were especially noteworthy in terms of their size relative to their volatility over the past 30 days.
Trend News
On a 90 day basis, the strongest trend appears on Ethanol. Price action traders will also want to note that a base appears to be forming on Gasoline. Price bases often precede increases in volatility and a clear trend.Moving Averages In The Energy Commodity World
Pairs that crossed notable moving average levels include Heating Oil and Gasoline; they crossed their 20 and 20 day moving averages, respectively. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that Gasoline has perhaps the strongest trend. See the chart below.
Brent (CO1) Down $0.1 Over Past 4 Hours, Started Today Up 0.52%; Price Base in Formation Over Past 14 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.
Gasoline (XB1) Down $0 Over Past 4 Hours, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
Whether volatility reverts will be something to watch.
Natural Gas (NG1) Down $0.01 in Last 4 Hours, Outperforms All energy commodity; Moves Up For the 3rd Consecutive Day
For another vantage point, consider that natural gas’s price has gone down 16 of the previous 30 trading days.
Heating Oil (HO1) Up $0 Over Past 4 Hours, 3 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart
Out of the 6 instruments in the energy commodity asset class, heating oil ended up ranking 4th for the day in terms of price change relative to the previous day.
Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Fares the Worst Out of energy commodity; But Still in an Uptrend Over Past 90 Days
It is for this reason that india needs to have adequate crude oil reserves in the form of strategic petroleum reserves (spr)….
Ethanol (DL1) Down $0 Over Past 4 Hours, Entered Today Down 0%; Pin Bar Pattern Appearing on Chart
Also, candlestick traders!
Brent (CO1) Down $0.1 On 4 Hour Chart, Started Today Down 0.4%; in an Uptrend Over Past 90 Days
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
Gasoline (XB1) Down $0 in Last 4 Hours; Entered Today Up 0.38%
Relative to other instruments in the energy commodity asset class, gasoline ranked 2nd since the day prior in terms of percentage price change.
Natural Gas (NG1) Down $0.01 in Last 4 Hours, Entered Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 30 Days
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.