Crude Oil 4 Hour Price Update
Updated September 18, 2020 12:50 AM GMT (08:50 PM EST)
Crude Oil came into the current 4 hour candle up 4.91% ($1.88) from the open of the last 4 hour candle, marking the 2nd candle in a row it has gone up. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Crude Oil Daily Price Recap
Crude Oil closed the previous day up 2.02% ($0.81); this denotes the 3rd consecutive 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 the previous day. Let’s take a look at the daily price chart of Crude Oil.
Crude Oil Technical Analysis
First things first: Crude Oil crossed above its 20 and 200 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Crude Oil’s price has gone down 8 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Crude Oil:
- From MillyMolly300:
@DrCraigEmerson Just because we think differently to you,we are ‘hard right’? Globalism has been a disaster, industries moved off shore & we now import food we used to grow here. It was a great idea to close down our oil refineries & import more crude oil too. Who needs fuel reserves or farmers?
- From MuskanShandal:
He was on board a crude oil carrier named ‘New Horizon’. “Dhananjay was the junior most officer on ship after the crew changed in July. He mentioned that he was being harassed by his chief officer & wanted to file a complaint against him. But his parents stopped him from (2/n)
- From hudgeman1977:
USA market at one point was 400 down but rallied to finish only 130 down.Most important thing to look for is the 10 year yield. It rallied with crude oil.Those 2 combined tells us the market is going higher. I will be adding to some of my stock’s today.
For a longer news piece related to CL1 that’s been generating discussion, check out:
DOE Weekly Petroleum Status Report: 9/9/20 -381k +400k Note in bbls *exp = Reuters poll est except Cushing Summary of Weekly Petkoleum Data for the Week (Live Link) Weather Watch Gulf of Mexico API Crude Inventories WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave In any break key is crowd behavior to help tell the story….We watch ABC corrections from here….That is -59.5 mil YoY US consumers spent $81779.10 million dollars per day for gasoline last week.
“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