Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Entered Today Up 1.99%; Price Base in Formation Over Past 30 Days

Crude Oil 4 Hour Price Update

Updated July 23, 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 previous 4 hours. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class the current 4 hour candle.

Crude Oil Daily Price Recap

Crude Oil closed the previous day up 1.99% ($1.4); this denotes the 3rd straight day it has gone up. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 4th for the day in terms of price change relative to the previous day. Below is a daily price chart of Crude Oil.


Crude Oil Technical Analysis

Notably, Crude Oil is now close to its 20 and 50 day averages, located at 72.58 and 69.95 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Crude Oil’s price has gone up 7 of the previous 14 trading days.

Overheard on Twitter

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

  • From STRONGfollower:

    @StealthyReptile @CryptoGeorgist @shoe0nhead We’re not talking about boycotting Nike shoes here. Regular working people do not buy barrels of crude oil, cords of lumber, plastic or bars of steel. 70% of our nation’s pollution comes from the very beating heart of its industry, you don’t just choose to not buy from them.

  • From truemagic68:

    The mood music for bargain hunters in global equities improved yesterday after Monday’s debacle. Bond yields & crude oil bounced. Opening calls cautiously optimistic ahead of US Jobless Claims & ECB Meeting – FTSE +13 @ 7011, DAX +32 @ 15457 CAC+12 @ 6476, DJIA + 27 @ 34825

  • 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 …😡🔥🔥

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

US Crude Oil Exports: Record High in 2020, Despite Lockdown – Watts Up With That?

So far this year (as of July 9, 2021), U.S. crude oil exports have averaged 3.00 million barrels per day (b/d)….U.S. crude oil exports have increased significantly since 2015 and have averaged around 3.00 million b/d every year since 2019….No ability for the oil industry to continue to drill, period, ends, number one.” APRIL 14, 2021Gulf of Mexico crude oil production will increase with new projects in 2021 and 2022 EIA forecasts U.S. crude oil production in the U.S. Federal Gulf of Mexico (GOM) to increase in the next two years, according to the latest Short-Term Energy Outlook (STEO)….By the end of 2022, 13 new projects could account for about 12% of total GOM crude oil production, or about 200,000 barrels per day (b/d)….In 2020, GOM crude oil production averaged 1.65 million b/d….Since 2000, the highest crude oil production year was 2019 at 1.9 million b/d.