Crude Oil (CL1) Down $0.15 in Last 4 Hours, 2 Day Up Streak Broken; Evening Star Pattern Appearing on Chart

Crude Oil 4 Hour Price Update

Updated March 24, 2021 01:53 AM GMT (09:53 PM EST)

Crude Oil entered the current 4 hour candle at $46.6, down 0.32% ($0.15) from the last 4 hour candle. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class the current 4 hour candle.

Crude Oil Daily Price Recap

The back and forth price flow continues for Crude Oil, which started today off at 57.76 US dollars, down 6.17% ($3.8) from the previous day. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

First things first: Crude Oil crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see evening star pattern appearing here as well.

Overheard on Twitter

Over on Twitter, here were the top tweets about Crude Oil:

  • From LGowong:

    I saw a video on IG yesterday by Joyce Daniels, I woke up worried , so in the last 3 years we have not refined any crude oil in this country but it cost us #10billion every month to maintain the same refineries! Can someone explain this to me? Now they want to use how much to?🤔

  • From bovispuer:

    @luisbaram I have worked in the oilfield for 35+ yrs and we will need crude oil & natural gas long after I leave this earth, it’s reliable energy, too many stupid ppl are brainwashed into believing wind and solar are the answer, the earth doesn’t have enough cobalt & lithium for batteries

  • From realmartypeercy:

    Next week the governor will require us each to drink at least 8 ounces of crude oil per day to celebrate the industry’s contribution to the life and economy of Oklahoma.