Crude Oil (CL1) Down $0.15 in Last 4 Hours, Entered Today Up 0.74%; in an Uptrend Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated April 08, 2021 01:55 AM GMT (09:55 PM EST)

46.6 was the closing price of the four-hour candle for Crude Oil, resulting in the current 4 hour candle being one in which price moved 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 came into today up 0.74% ($0.44) from the open of yesterday, marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Notably, Crude Oil is now close to its 50 day moving averages, which may act as price barrier for the asset. 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 30 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. Or to view things another way, note that out of the past 30 days Crude Oil’s price has gone up 15 them.

Overheard on Twitter

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

  • From jewwithlaser:

    @MrReaganUSA @laurenboebert Laur, sorry but not on Biden. A) Texas refines a majority of crude oil in US. This dropped by nearly 56% in Feb when the power grid (brought to you by Abbott) failed. B) supply/demand were both down during pandemic. Now demand is up, but not supply. This is how markets work.

  • From joe70micoo:

    @Maureen6Johnson Not true, we will fund our own Scottish nhs with the millions made from crude oil & the billions owed to us from England as compensation for losses at the battle of Bannockburn & dont forget our new currency the smackaroony will be worth more than the £ snp emma harper told us😉

  • From Faiz_INC:

    Ever since Saheb ji got troubles in paying for crude oil imports to Saudi Arabia, Ram Dev seems has assured Sahe, Gowu mutra can be converted to Petrol & Diesel. They are discussing with Yogi & scientists. As Ram Dev said, very soon we can get petrol (gowu mutra) for 35 rupees.

For a longer news piece related to CL1 that’s been generating discussion, check out:

Iran tankers with 3M barrels of crude oil head to Syria, defying US sanctions | Fox News

©2021 FOX News Network, LLC….Millions of crude oil barrels are on their way to Syria from Iran, violating U.S. sanctions….CLICK HERE TO GET THE FOX NEWS APP Iranian Press TV reported on Monday, according to an unnamed source, that Iran will agree to return to commitments under the nuclear deal only if the U.S. removes all sanctions imposed against it.