Crude Oil (CL1) Down $0.15 in Last 4 Hours, Entered Today Down 1.64%; Price Base in Formation Over Past 30 Days

Crude Oil 4 Hour Price Update

Updated March 31, 2021 01:53 AM GMT (09:53 PM EST)

The choppiness in the recent four-hour candle price action of Crude Oil continues; to start the current 4 hour candle, it came in at a price of 46.6 US dollars, down 0.32% ($0.15) since 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

60.55 was the closing price of the day for Crude Oil, resulting in today being one in which price moved down 1.64% ($1.01) 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

The first thing we should note is that the current price of Crude Oil is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Crude Oil’s price has gone up 5 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Crude Oil for the past day were:

  • From davidkingtheo:

    @JencaBenca You know this is related to Africa, the colonists West knew that the only ppl that will stop UK from looting Africa are East Europe billionaires who has turned their interest to d best crude oil in the world known as blco made in Biafra. That UK is rich is Biafra @EUCouncilPress

  • From _kwansa:

    So this country we can’t run our own airline unless it’s privatized, we can’t run our own telecom company unless it’s privatized. We can drill our own crude oil unless white man dey and we definitely can’t run our own port Kwame Nkrumah got us unless some French billionaire does?

  • From Oyinwealth4:

    @DanielRegha @SaharaReporters @ProfOsinbajo For this country to function properly, we need to cut off Liabilities. The North is a Liability to this country. Crude oil comes from South South, Commerce and trade comes from the south west, Manufacturing and fabrication comes from South East, What is coming from the North?

In terms of news links for Crude Oil here’s one to try:

Trade Ideas: USDJPY Inside Bar + Pin Bar Combo Signal & CRUDE OIL Pin Bar Signal – March 30th, 2021 » Learn To Trade The Market

Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product….Learn Advanced Price Action Strategies & High Probability Trade Entry Signals That Work Join Nial’s Trading Course Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information….You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets.