Crude Oil (CL1) Down $0.15 in Last 4 Hours, Started Today Down 1.59%; Breaks Below 20 Day Average

Crude Oil 4 Hour Price Update

Updated July 08, 2021 01:53 AM GMT (09:53 PM EST)

The back and forth price flow continues for Crude Oil, which started the current 4 hour candle off at 46.6 US dollars, 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

Crude Oil closed the day prior down 1.59% ($1.17); this denotes the 3rd day in a row it has gone down. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 5th for the day in terms of price change relative to the day prior. Here is a daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Notably, Crude Oil crossed below its 20 day moving average yesterday. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.

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 HasibaAmin:

    Dear media, fuel price have increased 63 times this year, 36 times in the last two months alone. The price has crossed Rs100 in at least 150 cities. All this when the international crude oil price is at one of it’s lowest! When are you planning to talk about this? #BJP_की_लूटनीति

  • From ih82tweetdood:

    Another successful migration. You’ll spend the summer months toiling on a coca farm in West Virginia run by a sub branch of the boogaloo boys. When fall hits you’ll head back to the gulf of Mexico once again, making your living skimming crude oil off the surface of the ocean.

  • From savndaniel:

    It is despicable enough that most oil wells are controlled and managed by northerners. The Gold in Zamfara, against existing legislation, has been monopolised: whilst the crude oil in the Niger Delta belongs to the Federation, the Gold in Zamfara belong to Zamfara State.