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.
Whether volatility reverts will be something to watch.
For another vantage point, consider that natural gas’s price has gone down 16 of the previous 30 trading days.
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.
It is for this reason that india needs to have adequate crude oil reserves in the form of strategic petroleum reserves (spr)….
Also, candlestick traders!
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
Relative to other instruments in the energy commodity asset class, gasoline ranked 2nd since the day prior in terms of percentage price change.
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.