Gasoline (XB1) Down $0.05 On 4 Hour Chart, Underperforms All energy commodity; Makes Big Move Relative to Two Week Trend

Gasoline 4 Hour Price Update

Updated August 03, 2020 07:09 AM GMT (03:09 AM EST)

Gasoline came into the current 4 hour candle down 4.42% ($0.05) from the open of the last 4 hour candle, marking the 5th candle in a row a decrease has occurred. Those trading within the energy commodity asset class should know that Gasoline was the worst performer in the class the current 4 hour candle.

Gasoline Daily Price Recap

Gasoline came into today down 4.42% ($0.05) from the open of yesterday, marking the 5th day in a row a decline has happened. On a relative basis, Gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class today. Below is a daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

First things first: Gasoline crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Gasoline for the past day were:

  • From cjenscook:

    @mortymer001 @The92ers @chigrl @mortymer Interesting that Kissinger recommended an oil price floor. That looks like what Wall Street fixed for Obama 2009 to 2014. Oil price floor around $80/bbl and what looked like a gasoline price cap.

  • From tahoereality:

    @ellen_abbott @SexCounseling @realDonaldTrump @BarackObama ban fracking, see if natural gas price goes up
    ban pipelines, see if gasoline price goes up
    get the idea?

  • From coelhoosvaldo3:

    @WSJ Shale oil. Energy independence. Less gasoline price volatility. More big pick up trucks.