Crude Oil 4 Hour Price Update
Updated December 29, 2020 01:51 AM GMT (09:51 PM EST)
Crude Oil entered the current 4 hour candle at $46.6, down 0.32% ($0.15) from the last 4 hour candle. On a relative basis, Crude Oil was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.
Crude Oil Daily Price Recap
Crude Oil entered today at $47.62, down 1.26% ($0.61) from the previous day. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 5th since the previous day in terms of percentage price change. Below is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
Coming into today the current price of Crude Oil is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Crude Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days.
Overheard on Twitter
Behold! Here are the top tweets related to Crude Oil:
- From danishhen2:
@olusogaowoeye People still don’t know that our local economy is booming. What they think is we get our forex solely from Crude Oil. If you know the amount of factories, farm lands and all sort of industries this Buhari govt has brought back to this country, you will not slush your country!
- From oreotoki:
Whenever I read books set in the Niger Delta region I’m angry/ sad about what has become of the place without having ever visited or lived there. I can’t imagine what the people who lived there before the discovery of crude oil must have felt seeing how their environment went
- From OluwakayodeKomo:
@Ekwulu Why is electricity supply is still abysmally low in Nigeria, why is Nigeria still importing foods, why is Nigeria unable 2 refine it’s God-given crude oil locally, why does Nigeria depend largely on India for her pharmaceuticals?
Why is Nigeria still a backward 3rd world country