Gasoline (XB1) Down 0.42%, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Gasoline Daily Price Recap

Gasoline closed the previous day down 0.42% ($0.0032); this denotes the 3rd day in a row a decline has happened. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 4th for the day in terms of price change relative to the previous day. Here is a daily price chart of Gasoline.

Gasoline Technical Analysis

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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that Gasoline’s price has gone up 5 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

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

  • From Bubblespotting:

    @ManishM86480669 YES DREAM ON! and when are the gasoline price go negative then I get money at the pump RIGHT😂