Gasoline is Down for the 2nd Day in a Row

The Hourly View for Gasoline

  • Currently, XB1’s price is down $-0.01 (-0.46%) 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.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. 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.

XB1

The Daily View for Gasoline

  • Currently, XB1’s price is down $-0.01 (-0.33%) from the day prior.
  • Gasoline has seen its price go down 9 out of the past 10 days, thus creating some compelling opportunities for bears.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 and 50 day moving averages have been crossed, so that price is now turning below them. The moving averages on the daily 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.
  • Divergence between XB1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XB1’s price.

Below is a daily price chart of Gasoline.

XB1