Gasoline (XB1) Up $0.08 Over Past 4 Hours, Crosses 200 Day Moving Average; Price Base in Formation Over Past 90 Days

Gasoline 4 Hour Price Update

Updated October 07, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline entered the current 4 hour candle at $1.199, up 6.95% ($0.08) from the last 4 hour candle. Relative to other instruments in the energy commodity asset class, Gasoline ranked 2nd since the last 4 hour candle in terms of percentage price change.

Gasoline Daily Price Recap

Gasoline closed yesterday up 1.23% ($0.01); this denotes the 2nd straight day an increase has occurred. 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 yesterday. The daily price chart of Gasoline below illustrates.


Gasoline Technical Analysis

Notably, Gasoline crossed above its 200 day moving average yesterday. 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 another vantage point, consider that Gasoline’s price has gone up 6 of the previous 10 trading days.

“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