Gasoline Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Gasoline

  • At the moment, XB1’s price is down $-0.01 (-0.54%) from the hour prior.
  • Gasoline has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, with price now being below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Gasoline’s hourly price chart is shown below.


The Daily View for Gasoline

  • At the time of this writing, XB1’s price is up $0.03 (1.51%) from the day prior.
  • The daily chart shows that Gasoline has seen 2 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Of note is that the 20 day changed directions on XB1; it is now pointing up. 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.


Featured Gasoline Idea From TradingView

Below is a trading comment entitled CANADIAN DOLLAR vs JAPANESE YEN (LONG) you may find interesting:

An interesting fifth wave scenario is forming up on this pair as prices are heading towards the end of this correction. Expecting to see strong bullish mommentum for the next two to three weeks as most economies reopen, increased investor risk appetite causing movement of capital/assets …