Crude Oil 4 Hour Price Update
Updated May 27, 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 is up 0.21% ($0.14) since yesterday, marking the 4th straight day an increase has occurred. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 5th for the day in terms of price change relative to yesterday. Here is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
Coming into today the current price of Crude Oil is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Crude Oil’s price has gone up 10 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Behold! Here are the top tweets related to Crude Oil:
- From ndokizone:
If Fulanis can pipe crude oil from South to the north just to steal funds/loots; what stops them from PIPING WATER TO THE DESERT to plant grasses for their cows & help their brothers if really they care?
Fulani cannot intimidate any Igbo man to succumb, imposible
- From Samir_Madani:
@Joyce_Karam Joyce, if you’re implying that these “mysterious incidents” are security breaches, then I can stop you right there. A petchem plant or refinery burning only means that Iran ends up having more crude oil to export, which they’ll gladly do.It’s hot right now and plants are old.
- From tajudine2013:
Peter Obi says it is unfortunate that governors go to Abuja every month to collect money made from crude oil sales from the federal government.He affirmed that restructuring Nigeria would improve the nation’s economy and end insecurity.Because he didn’t as a governor? 😂😂
In terms of news links for Crude Oil here’s one to try:
Nevertheless, the likelihood of the deal remains high, with JCPOA negotiations clearing a major hurdle on May 24, when the International Atomic Energy Agency announced a one-month extension of its agreement with Tehran for access to recordings to continue monitoring Iran’s nuclear activities….Furthermore, investors believe that an increase in Iranian exports will feed directly into rising oil demand, which is expected to come as vaccination drives around the world pick up pace and as global economic activity rebounds.