Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Moves Up For the 7th Straight Day; Pin Bar Pattern Appearing on Chart

Crude Oil 4 Hour Price Update

Updated February 10, 2021 01:54 AM GMT (09:54 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 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 is up 0.67% ($0.39) since the day prior, marking the 7th straight day it has gone up. 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. The daily price chart of Crude Oil below illustrates.


Crude Oil Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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 kingmutare:

    @begottensun Crude oil was discussed in 3 WhatsApp groups I’m in. It’s just how Twitter was designed to give tweets a wider reach like reaching out to users beyond your network that makes it different. If WhatsApp had an algorithm to check what’s trending then you’d also equate it to bhawa🤔

  • From sjwright1957:

    #UJO… With crude oil prices ticking up two things to consider ! Every dollar increase is worth $73,000 to #UJO at Wressle. With some reports saying oil at $100 within 12 months. That’s $2,920,000 more for #UJO Making around $7,000,000 PA. Not bad for a company sat at .18 😉

  • From stdennis02:

    Aside rising exch rate & inflation, 🇳🇬 began 2021 on a good note with soaring crude oil priceToday, Brent Crude hit highest price of $60 since Jan 2021 while benchmark in 2020 budget is $40The only downside is FG may hike petrol price to ₦180-₦195 which ll worsen inflation.

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

WTI Crude Oil Forecast: Market Continues to Power Higher

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We are a little overdone, and the next day or two might offer a buying opportunity at lower levels….(I am speaking of markets in general, not just the crude oil market.) We are overdone, and I think that a bit of a pullback is probably necessary in order to build up the necessary momentum to continue going towards the $60 level….          
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