Gasoline (XB1) Down $0 Over Past 4 Hours, Started Today Down 5.76%; Crosses 100 Day Moving Average

Gasoline 4 Hour Price Update

Updated September 09, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline closed the previous 4 hours down 0.33% ($0); this denotes the 4th candle in a row it has gone down. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 2nd for the four-hour candle in terms of price change relative to the previous 4 hours.

Gasoline Daily Price Recap

Gasoline closed the previous day down 5.76% ($0.07); this denotes the 5th day in a row it has gone down. 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. Let’s take a look at the daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

Notably, Gasoline crossed below its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Gasoline’s price has gone up 16 of the previous 30 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Gasoline:

  • From Gobanimo2:

    @Trafigura #Somaliland, a very poor country, has the highest gasoline price in world $4/US gallon. In contrast, the price of unleaded gasoline in US is $2. I would welcome #trafigura coming to Somaliland if it would help bring down the cost of fuel, which is hampering local development.

  • From ELBINAWI:

    1/+
    After the increase in the pump price of petrol by the @MBuhari régime to punish the already poverty crushed Nigerian masses, agents of the régime started spreading fraudulent propaganda by comparing the gasoline price of Nigeria & that of some countries they selected.

  • From stand4flag:

    @prayingmedic DemonRats have destroyed this state. We pay the highest gasoline price as we have offshore drilling right here. Highest home rental whether that be apt, condo or house. Homeless pop exploding. Yet illegals get free education, medical and welfare bennies.


“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram