Crude Oil (CL1) Down $0.15 On 4 Hour Chart, Started Today Down 4.56%; Crosses 50 Day Moving Average

Crude Oil 4 Hour Price Update

Updated April 06, 2021 01:53 AM GMT (09:53 PM EST)

Crude Oil entered the current 4 hour candle at $46.6, 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 entered today at $58.65, down 4.56% ($2.8) from yesterday. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 5th since yesterday in terms of percentage price change. Below is a daily price chart of Crude Oil.

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. Or to view things another way, note that out of the past 30 days Crude Oil’s price has gone down 16 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

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 Noratoriou5:

    @veryfinanceguy @sunraysunray @krystalball They hate him because he doesn’t want to sell Bolivia’s 200M barrels of crude oil to US oil companies for pennies on the dollar, but wants the Bolivian people to own it.That’s the only reason the US hates Bolivia: oil they can’t get their hands on.

  • From DeshGujarat:

    In last few days, petrol-diesel rates have started falling. We had said earlier that when crude oil prices will fall in international market, we will pass on benefit to consumers… Price of LPG has also started falling. It will fall further in coming days: Dharmendra Pradhan

  • From kktotlani:

    Latest:Petrol, diesel & LPG prices have started reducing now & they’ll reduce further in the coming days. We had stated earlier also that we’ll transfer benefit from decrease in crude oil prices in global market to the end customers. – Dharmendra Pradhan, Union Petroleum Minister

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

Gold, Crude Oil Price Outlook: Market Digests Strong NFP and Higher Yields

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