Crude Oil 4 Hour Price Update
Updated March 25, 2021 01:54 AM GMT (09:54 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 entered today at $61.18, up 5.92% ($3.42) from the day prior. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 2nd for the day in terms of price change relative to the day prior. Below is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
First things first: Crude Oil crossed above 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. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone down 8 out of the past 14 days. Candlestick traders will also want to note that we are seeing a bullish engulfing pattern amidst the downtrend on the 90 and 14 day charts; a bullish engulfing pattern amidst a downtrend may signal the downtrend is ready to culminate.
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 PolKholArmy:
Central taxes on Petrol & Diesel rose by 307% in last 6 years. The BJP govt collected Rs 2.94 lakh cr between Apr 20- Jan 21. Global crude oil prices had touched a 2 decade low during the pandemic, but the @BJP4India govt made a killing from looting Indian citizens! #BJPPolkhol
- From drshamamohd:
Central taxes on #petrol & #diesel rose by 307% in last 6 years. The BJP govt collected Rs 2.94 lakh cr between April 2020- January 2021. Global crude oil prices had touched a 2 decade low during the pandemic, but the #Modi govt made a killing from looting Indian citizens!
- From Sasha_humble:
TZ-UG in bid to help locals tap into $3.5B pipeline project intended to transport crude oil 4rm Ug’s oil fields in Hoima to the Port of Tanga, TZ on the shores of the Indian Ocean.
Once completed, the pipeline will be the longest heated crude oil pipeline in the world.
In terms of news links for Crude Oil here’s one to try:
“Americans and their allies are targeting the Syrian oil wealth and its tankers just like pirates,” the Syrian oil minister said….He added that Syrian oil is being plundered by the extremists in various ways, all with the participation and support of American forces deployed to the region.