Gasoline (XB1) Down $0 On 4 Hour Chart, 2 Day Up Streak Ended; Price Base in Formation Over Past 14 Days

Gasoline 4 Hour Price Update

Updated July 13, 2021 01:53 AM GMT (09:53 PM EST)

Gasoline closed the previous 4 hours down 0.05% ($0); this denotes the 3rd consecutive candle it has gone down. Relative to other instruments in the energy commodity asset class, Gasoline ranked 3rd since the previous 4 hours in terms of percentage price change.

Gasoline Daily Price Recap

2.2772 was the closing price of the day for Gasoline, resulting in today being one in which price moved down 0.65% ($0.01) from the previous day. Those trading within the energy commodity asset class should know that Gasoline was the worst performer in the class today. Let’s take a look at the daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

The first thing we should note is that Gasoline is now close to its 20 day averages, located at 2.24 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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. For another vantage point, consider that Gasoline’s price has gone up 9 of the previous 14 trading days.