Crude Oil (CL1) Up $1.21 Over Past 4 Hours, Entered Today Up 3.14%; Price Base in Formation Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated June 30, 2020 11:07 PM GMT (07:07 PM EST)

The choppiness in the recent four-hour candle price action of Crude Oil continues; to start the current 4 hour candle, it came in at a price of 39.7 US dollars, up 3.14% ($1.21) since the previous 4 hours. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

Crude Oil Daily Price Recap

The choppiness in the recent daily price action of Crude Oil continues; to start today, it came in at a price of 39.7 US dollars, up 3.14% ($1.21) since the day prior. 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 day prior. Below is a daily price chart of Crude Oil.

Crude Oil Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 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 20 of the previous 30 trading days.

Overheard on Twitter

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

  • From RealBrianWatt:

    (ps those who were on my film session / retrade of the March 10 crude oil using bracket orders last night know how fun it is to watch cuz u can see the take profit n the stop right on the screen so its a wild viewing experience ) July 15th, ES…16 tick take profit, 16 tick stop

  • From prettypadmaja:

    @ShatruganSinha Cost of crude oil, is linked to the selling price, due to #Lockdown consumption of Petrol & Diesel is less, it hits GOI revenue any cut in the Excise Duty or VAT by states will hit the welfare schemes of govt. Inflation is under control. We have to understand what was then & now.

  • From JitinPrasada:

    In 2009 the crude oil prices were the highest. We made sure the burden should be borne by the govt to cushion the people. Today when crude prices are all time low the govt has not passed on the benefit to the consumer and instead put high taxes on fuel !#SpeakUpAgainstFuelHike

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

Rupee gains 7 paise to 75.51 against dollar on weak crude oil | Business News – India TV

Rupee gains 7 paise to 75.51 against dollar on weak crude oil The rupee on Tuesday appreciated by 7 paise to 75.51 against the US dollar on softening crude oil prices and early gains in domestic equity market….”Rupee strengthened in six out of last seven sessions following foreign fund inflows, central bank dollar selling, steady crude oil prices and lower dollar index,” HDFC Securities Deputy Head of Retail Research Devarsh Vakil said, adding that positive data surprises in the US and China (PMIs) have supported risk sentiment.