Gasoline (XB1) Down $0.03 Over Past 4 Hours, Moves Down For the 2nd Day In A Row; Breaks Below 20 and 200 Day Averages

Gasoline 4 Hour Price Update

Updated October 13, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline entered the current 4 hour candle at $1.2023, down 2.24% ($0.03) from the last 4 hour candle. On a relative basis, Gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.

Gasoline Daily Price Recap

Gasoline came into today down 2.04% ($0.02) from the open of yesterday, marking the 2nd day in a row a decline has happened. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of Gasoline below illustrates.


Gasoline Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Gasoline crossed below its 20 and 200 day moving averages yesterday. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Gasoline’s price has gone down 6 them.

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 Ohdarkthirty1:

    @MsDianaFrances @AAR_FreightRail Cities all had commuter trains, before the national policy decision to subsidize* personal vehicle use** was made.
    Tracks were torn up, steel was scrapped.*Interstates, gasoline price controls, car loan tax deduction
    ** and suburbs, thru the mortgage interest deduction

  • From Montani42:

    @realDonaldTrump @GOPLeader @GOPChairwoman Talk in average American language, not DC speak! Stopping fracking will raise your gasoline price, electricity bill, shipping costs, etc. They will understand that instead of “energy”! On Biden raising taxes too.

  • From MaggioMatt:

    @michellecubell4 @DeLaineGates2 @RandyRainbow @Jefe_Mills Gasoline price per gallon is a good indicator of the decline of U.S. dollar’s value.

“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