Gasoline (XB1) Down $0 Over Past 4 Hours, 5 Day Up Streak Broken; is Inching Close to 20 Day Average

Gasoline 4 Hour Price Update

Updated July 07, 2021 01:53 AM GMT (09:53 PM EST)

Gasoline is down 0.05% ($0) since 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 is down 3.71% ($0.09) since the previous day, marking a reversal from the day prior — and the end of a 5 day positive run. Relative to other instruments in the energy commodity asset class, Gasoline ranked 4th since the previous day in terms of percentage price change. The daily price chart of Gasoline below illustrates.


Gasoline Technical Analysis

The first thing we should note is that the current price of Gasoline is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Gasoline’s price has gone up 7 of the previous 10 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90, 30 and 14 day charts, may be slowing down and ready to reverse.