Gasoline (XB1) Up 1.08%; Pin Bar Pattern Appearing on Chart

Gasoline Daily Price Recap

1.0454 was the closing price of the day for Gasoline, resulting in today being one in which price moved up 1.08% ($0.0112) from the day prior. 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 day prior. Below is a daily price chart of Gasoline.

Gasoline Technical Analysis

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. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 and 30 day timeframes. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

  • From EarningsAlley:

    Roberto da Cunha Castello Branco: “You will see an upward trend in gasoline price taking place since April 22, and we have made two price increases, one of 12% and other one of 10%”

  • From FleqxRS:

    @macawcaw123 Wendy’s and your gasoline price. Other than that I’m good here