Gasoline (XB1) Down 4.77%; in a Downtrend Over Past 90 Days

Gasoline Daily Price Recap

Gasoline came into today down 4.77% ($0.0365) from the open of the previous day, marking the 4th day in a row a decline has happened. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Gasoline.

Gasoline Technical Analysis

The first thing we should note is that Gasoline is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Gasoline has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 30 days Gasoline’s price has gone down 17 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Gasoline:

  • From mikef3825:

    @DiStitz @Mountaingal456 @madShana @Zalman888 @UbelCheryl @Salvester001 @GiveItAll11 @Trachiel_24 @G792Mike @mrsvaccaro @PhobicCarrot @EastBhamKid @_WeAreND_ @NickM538 @LeslieTeston @2020NYGIANTS @MJTorres1230 @Hoyt23_ @radioshaqtive93 @RomeRoss15 @RyShow85 @MonksDana @kevinyyc85 @YankeeMac1 @um8387899101 @nysportsfan2015 @ParforeTom @sdt927 @jca53057 @tsarantis27 @JoeGNJ1 @DwightRodwell @8navyblue @yankeereport28 @KnicksNetwork @caitlucibello @LttleGel @forevershinin @amber00827 @Drizly Stunned that you can now get paid $38 a barrel for oil. I have never before seen a negative commodity price. Gasoline price going to be nothing more than taxes and fees soon.

  • From kynewsmakers:

    On @WKYT This Morning:
    -Despite 273 new cases of coronavirus in KY there are encouraging signs
    -Gov to talk with superintendents about school for the rest of the academic year
    -Lexington average gasoline price down to $1.42 a gallon
    -True SPRING with highs in 60s & showers around

  • From monark24:

    @Ron80370877 @ericbolling Gasoline price includes state and fed taxes. In arkansas gasoline $1.29 if we took out the fed and state taxes it would be 59cents!!!! Yep hello 1972.