Gasoline (XB1) Up $0.02 On 4 Hour Chart, Entered Today Down 1.71%; Breaks Below 20 Day Average

Gasoline 4 Hour Price Update

Updated October 16, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline is up 1.95% ($0.02) since the previous 4 hours, marking the 2nd straight candle it has gone up. Relative to other instruments in the energy commodity asset class, Gasoline ranked 5th since the previous 4 hours in terms of percentage price change.

Gasoline Daily Price Recap

1.1806 was the closing price of the day for Gasoline, resulting in today being one in which price moved down 1.71% ($0.02) from the day prior. Those trading within the energy commodity asset class should know that Gasoline was the worst performer in the class today. The daily price chart of Gasoline below illustrates.


Gasoline Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Gasoline crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Gasoline’s price has gone up 16 them.

“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