Crude Oil (CL1) Down $0.15 in Last 4 Hours, Started Today Down 2.3%; Breaks Below 50 Day Average

Crude Oil 4 Hour Price Update

Updated April 01, 2021 01:52 AM GMT (09:52 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 previous 4 hours. 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 yesterday down 2.3% ($1.39); this denotes the 2nd day in a row it has gone down. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. The daily price chart of Crude Oil below illustrates.

CL1

Crude Oil Technical Analysis

Notably, 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 up 5 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 NkemPhilip1:

    @kabir_zaki @SaharaReporters @MaziNnamdiKanu We get oil for east ooooO and mind u d Igbos are not even after oil and gas business Bcoz it has stop being the real deal for some countries that’s why countries like Saudi, UAE are diversifying their economy while d mala in d north is still looking for crude oil in lake chad.

  • From WholeMarsBlog:

    BP made $200 million taking bullish positions in crude oil futures! These oil giants now have massive trading operations, and the traders are the stars of the company. Some make $10 million a year, Bloomberg reports. They’re making more money trading than selling oil

  • From GetUNN:

    #Uganda is the 12th exporter of crude oil. However, @KagutaMuseveni is smuggling this crude oil from Bunyoro under the guise of “hazardous waste”! How dare @KagutaMuseveni claims this oil that was discovered in 1920s is his personal oil!#UgandaIsBleeding

As for a news story related to Crude Oil getting some buzz:

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