Gasoline (XB1) Up $0.02 On 4 Hour Chart, Underperforms All energy commodity; Started Today Down 4.96%

Gasoline 4 Hour Price Update

Updated October 02, 2020 12:50 AM GMT (08:50 PM EST)

The back and forth price flow continues for Gasoline, which started the current 4 hour candle off at 1.2063 US dollars, up 1.49% ($0.02) from the last 4 hour candle. Out of the 6 instruments in the energy commodity asset class, Gasoline ended up ranking 5th for the four-hour candle in terms of price change relative to the last 4 hour candle.

Gasoline Daily Price Recap

Gasoline entered today at $1.1465, down 4.96% ($0.06) from the day prior. On a relative basis, Gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class today. Here is a daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Gasoline crossed below its 20 and 100 day moving averages yesterday. 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 30 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

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

  • From QNAEnglish:

    Qatar Petroleum announced the diesel and gasoline prices for the month of October 2020 in the State of Qatar. QP has set the price of Diesel at 1.15 QR/Litre while the price of Super Gasoline (95) is set at 1.30 QR/Litre and Premium Gasoline price is set at 1.25 QR/Litre. #QNA

  • From timoteo0167:

    @OilandEnergy If you are going to compare with retail gasoline price, you have to compare apples to apples. Need to strip out cost from carbon programs (LCFS, CAP&TRADE, RFS) and motor fuel taxes, the price of CA gasoline would be around $1.45/gal! This is often overlook & it’s a huge diff.

  • From mosen11316708:

    @nytimes Putin and his puppet Ayatollahs Khamenei are the most notorious leaders, that they can kill any number to stay in power. Khamenei killed 1501 young person in one day, just simply asked why gasoline price raised 300% in one day


“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