Crude Oil 4 Hour Price Update
Updated March 26, 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
The back and forth price flow continues for Crude Oil, which started today off at 58.56 US dollars, down 4.28% ($2.62) from yesterday. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. Below is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
First things first: 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. 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. Or to view things another way, note that out of the past 14 days Crude Oil’s price has gone down 9 them.
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 anasalhajji:
– The US commercial crude oil inventories are above what is needed for market equilibrium by more than 85 mb.
– The US can release 30 mb from the Strategic Petroleum Reserves and still have 600 mb in the SPR! – China can release 20 mb in a three-week period from SPR.
- 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!
As for a news story related to Crude Oil getting some buzz:
Tehran, March 25, IRNA – Iranian President Hassan Rouhani inaugurated 39 national projects with 5,800 billion tomans investment in trade and economic zones of three provinces on Thursday….Tehran, March 23, IRNA – Iranian President Hassan Rouhani, in separate messages on Tuesday, congratulated Pakistani President Arif Alvi and Pakistani Prime Minister Imran Khan on the country’s National Day.