Crude Oil (CL1) Down $0.15 On 4 Hour Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated April 27, 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 previous 4 hours. 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

The choppiness in the recent daily price action of Crude Oil continues; to start today, it came in at a price of 61.91 US dollars, down 0.37% ($0.23) since the previous day. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 4th since the previous day in terms of percentage price change. Here is a 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 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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 30 days Crude Oil’s price has gone up 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Crude Oil:

  • From therawdeeya:

    They’ve been fighting in Ojo since now and there’s no intervention yet to calm the place down.
    Them say police Sef Dey run.
    If na crude oil Dem see for one area for Ojo now, Usain bolt government Dem go don come barricade the area.

  • From MFHoz:

    This ponzi scheme is so fragile that FED members always come forward when we have a down day. Trillion dollar stimulus packages have become permanent, QE infinity, record low rates, and false flag events to pump up crude oil.Let that sink in for a moment

  • From ThomasJsmison:

    @BetteMidler It is possible to make biodegradable plastics from plants, and either biodegradable of even mulch capable plastic alternative packaging instead of using plastics derived from crude oil. It cost a few pennies more, so it’s not popular because everything is about profit.

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

Crude Oil Prices Down on Asian Demand Concerns Amid Viral Resurgence

Note: Low and High figures are for the trading day.