Crude Oil 4 Hour Price Update
Updated July 20, 2020 03:07 PM GMT (11:07 AM EST)
Crude Oil is down 0.39% ($0.16) since the last 4 hour candle, marking the 2nd candle in a row a decline has happened. On a relative basis, the current 4 hour candle were pretty good: Crude Oil bested all 6 of the assets in the energy commodity class 🙂
Crude Oil Daily Price Recap
Crude Oil is down 0.39% ($0.16) since yesterday, marking the 2nd day in a row a decrease has occurred. Crude Oil outperformed all 6 assets in the energy commodity asset class since yesterday. Congrats to its holders! Below 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. Volatility for Crude Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Over on Twitter, here were the top tweets about Crude Oil:
- From savndaniel:
…the Niger Delta crude Oil. Therefore, Buhari & Late Sani Abacha (may Allah bless his soul for being a thief with conscience).Even from the grave, Abacha still remembers that what he did was wrong – stealing so much money. That is why, he keeps send a part of what he stole.
- From AloyEjimakor:
In 1967, S/West battled ABURI but is now begging for the same Aburi (#Restructuring). N/Central fought #Ndigbo but is now being terrorized by those with whom they fought Ndigbo. S/South sabotaged Ndigbo because of crude oil but has now lost the oil to others, not Ndigbo.
- From DevaTRZ:
@Murugan_TNBJP @mkstalin Why Modi is not attending press meets?
In last 6 yrs not even a single open press meet?
Why BJP is not ready to provide Reservation for OBC Hindus?
Why BJP not reducing petrol prices on very low crude oil prices in the history?
What stopping all these?
As for a news story related to Crude Oil getting some buzz:
India plans to store its crude oil in US strategic petroleum reserves for use not just during emergencies but also for trading to capture any price advantage, officials said….The oil stored in the US reserves can be used for the nation’s own needs or can be traded to capture price advantage, he said adding these two scenarios work when oil prices rise after India has bought and stored oil in US reserves….The US has 714 million barrels of oil storage capacity in its strategic petroleum reserve, the world’s largest supply of emergency crude oil.