Gasoline (XB1) Down $0 On 4 Hour Chart, Fares the Worst Out of energy commodity; Price Base in Formation Over Past 14 Days

Gasoline 4 Hour Price Update

Updated May 31, 2021 01:53 AM GMT (09:53 PM EST)

Gasoline came into the current 4 hour candle down 0.05% ($0) from the open of the previous 4 hours, 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 previous 4 hours.

Gasoline Daily Price Recap

The choppiness in the recent daily price action of Gasoline continues; to start today, it came in at a price of 2.1369 US dollars, down 0.85% ($0.02) since yesterday. On a relative basis, Gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class today. The daily price chart of Gasoline below illustrates.

XB1

Gasoline Technical Analysis

Coming into today Gasoline is now close to its 20 day averages, located at 2.13 respectively, and thus may be at a key juncture along those timeframes. 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. 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 additional context, note that price has gone up 18 out of the past 30 days.