Gasoline (XB1) Up $0 On 4 Hour Chart, Started Today Up 0.35%; Price Base in Formation Over Past 14 Days

Gasoline 4 Hour Price Update

Updated July 21, 2020 11:09 AM GMT (07:09 AM EST)

The end of a 3 four-hour candle negative run has come for Gasoline, which finished the last 4 hour candle up 0.35% ($0). Relative to other instruments in the energy commodity asset class, Gasoline ranked 3rd since the last 4 hour candle in terms of percentage price change.

Gasoline Daily Price Recap

Gasoline’s 3 day negative streak has officially concluded, as the candle from yesterday closed up 0.35% ($0). Relative to other instruments in the energy commodity asset class, Gasoline ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Gasoline.

Gasoline Technical Analysis

Coming into today Gasoline is now close to its 20 day averages, located at 1.24 respectively, and thus may be at a key juncture along those timeframes. Volatility for Gasoline has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Gasoline’s price has gone up 18 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.