Crude Oil (CL1) Up $0.81 On 4 Hour Chart, Fares the Worst Out of energy commodity; 4 Day Up Streak Ended

Crude Oil 4 Hour Price Update

Updated September 21, 2020 12:49 AM GMT (08:49 PM EST)

Crude Oil came into the current 4 hour candle up 2.02% ($0.81) from the open of the last 4 hour candle, marking the 3rd straight candle it has gone up. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 5th since the last 4 hour candle in terms of percentage price change.

Crude Oil Daily Price Recap

The end of a 4 day positive run has come for Crude Oil, which finished yesterday down 0.75% ($0.31). Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. Let’s take a look at the daily price chart of Crude Oil.


Crude Oil Technical Analysis

Notably, the current price of Crude Oil is sitting close to its 20, 50 and 200 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 30 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Crude Oil’s price has gone up 7 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 krys10iam:

    @ShoTimeDzoWellz @007rager @thegoodgodabove @JoeBiden Somebody’s pulling your leg with much of what’s on those lists, son. Like the crude oil production one- we may have out-produced the Russians and the Saudis in 2018 but most of that progress happened under Obama. The pace of increase actually slowed under Trump. 🤦🏻‍♀️

  • From JohnofPH:

    @OgbeniDipo Other people on a date: What’s your favourite movie? Me on a date: What do you think will be the long term implication of a Trump reelection on crude oil prices in relation to the geopolitical stability of the middle east with regards to the Jerusalem peace accords?

  • From itsclrkhns:

    It was also the first crude oil to be discovered onshore. Anyway, the Royal Dutch Shell started the first drilling in 1910. It’s the same company who founded subsidiary company called Sarawak Oil Field Ltd (known today as Sarawak Shell Berhad)

“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram