Gasoline Just Breached This Major Moving Average Level

The Hourly View for Gasoline

  • Currently, XB1’s price is up $0.01 (0.32%) from the hour prior.
  • Gasoline has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
  • 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 up $0.03 (1.48%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • 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 above them. 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

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 …

tuntchy99