Gasoline (XB1) Down $0.03 On 4 Hour Chart, 2 Day Down Streak Ended; Breaks Above 20 and 100 Day Averages

Gasoline 4 Hour Price Update

Updated October 06, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline closed the previous 4 hours down 2.22% ($0.03); this denotes the 2nd straight candle a decline has happened. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.

Gasoline Daily Price Recap

Gasoline entered today at $1.199, up 6.95% ($0.08) from the previous day. Relative to other instruments in the energy commodity asset class, Gasoline ranked 2nd since the previous day in terms of percentage price change. Here is a daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

Notably, Gasoline crossed above its 20 and 100 day moving averages yesterday. 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. Price action traders in particular will want to note that the 90 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 5 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Gasoline:

  • From williamsdon645:

    NEW. JERSEY. Raised. Gas
    Price by. 6cents a gallon
    Now we have. The highest
    Gasoline. Price. In. America
    Thanksto phil. THE MUTT.
    Murphy. Our governor. Stinks
    He. Is. A. Moron dumb. Bell
    Idiot. Shit. Head. Put. The
    Pipe down

  • From OfVinleous:

    im worried cuz i saw my mum googled gasoline price
    we drive a diesel


“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram