Gasoline (XB1) Down $0 in Last 4 Hours, Crosses 20 Day Moving Average; Bearish Engulfing Pattern Present

Gasoline 4 Hour Price Update

Updated April 06, 2021 01:54 AM GMT (09:54 PM EST)

Gasoline came into the current 4 hour candle down 0.05% ($0) from the open of the last 4 hour candle, marking the 3rd consecutive candle it has gone down. 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 last 4 hour candle.

Gasoline Daily Price Recap

Gasoline entered today at $1.9611, down 3.03% ($0.06) from the day prior. Relative to other instruments in the energy commodity asset class, Gasoline ranked 2nd since the day prior in terms of percentage price change. The daily price chart of Gasoline below illustrates.

XB1

Gasoline Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Gasoline crossed below its 20 day moving average yesterday. 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. For additional context, note that price has gone up 6 out of the past 10 days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.