Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Crosses 50 Day Moving Average; Price Base in Formation Over Past 30 Days

Crude Oil 4 Hour Price Update

Updated July 22, 2021 01:53 AM GMT (09:53 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. 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 closed the previous day up 4.61% ($3.1); this denotes the 2nd straight day an increase has occurred. Crude Oil outperformed all 6 assets in the energy commodity asset class since the previous day. Congrats to its holders! Here is a 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. 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. For another vantage point, consider that Crude Oil’s price has gone up 19 of the previous 30 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Crude Oil:

  • From truemagic68:

    After yesyerday’s measurable global equity ‘pull-back’, due to Covid19’s toxicity, a 7% drop in crude oil & valuation concerns, suggested opening calls indicate that markets may not have completed their adjustment – FTSE -14 @ 6830, DAX -9 @ 15124, CAC -4 @ 6291, DJIA +27 @ 33989

  • From s_shreyatweets:

    Just to remind every Indians ..On May 16, 2014
    Crude Oil Per Barrel was $107.09
    Petrol was Rs 71.51
    Diesel was Rs 57.28On July 21, 2021
    Crude Oil Per Barrel is $ 66.96
    Petrol is Rs 110.18
    Diesel is Rs 105.63That’s how the modern day cut throat Acche Din works …😡🔥🔥

  • From MrBeaty2:

    Billionaire Warren Buffett CEO of Burlington Northern Santa Fe Railway, which uses tankers to bring Crude Oil to the refineries, is one of the largest contributors to the Demon Rats. So Biden shutting down the pipelines has nothing to do with Global Warming but about $$$$$$$$$$$?

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

Crude Oil volatility causing large moves in USD/CAD

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