Gasoline Does it Again: Heads Down for the 4th Straight Day

The Hourly View for Gasoline

  • At the time of this writing, XB1’s price is up $0 (0.19%) from the hour prior.
  • Gasoline has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Gasoline. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Gasoline’s hourly price chart is shown below.

XB1

The Daily View for Gasoline

  • Currently, XB1’s price is down $-0.04 (-1.6%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Gasoline has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Of note is that the 50 day changed directions on XB1; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Gasoline.

XB1