(Last Updated September 21, 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:
As for trends on XB1, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
Nuances in the trend on XB1 can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bearish, suggesting the trend is generally downward, save for a spike that occurred about 3 months ago.
The chart below illustrates.
At the time of this writing, XB1’s price is up $0.14 (12.8%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Most noteworthy in the world of moving averages on the weekly chart is that the 20 week moving average has been crossed, with price now being above it. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows XB1’s price action over the past year.
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 previous day.
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.
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.
Gasoline outperformed all 6 assets in the energy commodity asset class since the last 4 hour candle.
Relative to other instruments in the energy commodity asset class, gasoline ranked 4th since the previous day in terms of percentage price change.
For additional context, note that price has gone up 17 out of the past 30 days.
Out of the 6 instruments in the energy commodity asset class, gasoline ended up ranking 3rd for the day in terms of price change relative to yesterday.
In contrast, the price of unleaded gasoline in us is $2.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
We pay the highest gasoline price as we have offshore drilling right here.