(Last Updated July 2, 2020)
Hello! This is the news page for Gasoline. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
On XB1, there is currently an uptrend on the 90 and 30 day timeframes.
Nuances in the trend on XB1 can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.
The chart below illustrates.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Which, for the last 4-6 years has translated to wti of $50-60/bbl.
So the retailers, due to lack of demand, are holding prices high to maintain their margin right now?
Relative to other instruments in the energy commodity asset class, gasoline ranked 2nd since the previous day in terms of percentage price change.
Gas station a – gasoline price $2.20/ gallon – discount $0.20 if paid cash 2.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
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 day prior.
Gasoline outperformed all 6 assets in the energy commodity asset class since the day prior.
Gasoline outperformed all 6 assets in the energy commodity asset class since the previous 4 hours.