Crude Oil (CL1) Down $0.15 On 4 Hour Chart, Tops All energy commodity; in an Uptrend Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated April 02, 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

61.45 was the closing price of the day for Crude Oil, resulting in today being one in which price moved up 3.87% ($2.29) from yesterday. Crude Oil outperformed all 6 assets in the energy commodity asset class since yesterday. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Notably, Crude Oil crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 out of the past 14 days.

Overheard on Twitter

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

  • 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 FinPlanKaluAja1:

    On that $1.5b loan for the rehabilitation and subsequent sale of the crude oil refinery in Rivers State.Why not sell the refinery for $1.00 then the new owner can get “subsidized” dollars from CBN and zero import duties to repair.Why not?

  • From NeerajCNBC:

    Global-Market Cues
    -US prez Biden pitches for a $2.25 trillion infrastructure plan
    -US markets closed mixed, Tech shares rally
    -Asia may open in green but challenge to sustain
    -Bond yield at 1.75
    -Brent crude oil slips as demand concern
    @CNBC_Awaaz

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

OPEC and allies agree to gradually boost crude oil output Russia Covid Saudi Arabia Germany OPEC | The Independent

Find your bookmarks in your Independent Premium section, under my profile The OPEC oil cartel and allied countries said Thursday that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic….OPEC members, led by Saudi Arabia, and nonmembers, led by Russia have been meeting monthly to determine production levels as they face a recovery in demand whose pace has been uncertain.