Gasoline (XB1) Down $0 Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 7 out of the past 10 days.
Gasoline
(Last Updated April 15, 2021)
Welcome to the news page for Gasoline (XB1). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
The Trend
As for trends on XB1, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
XB1 Moving Averages
XB1’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, save for a decline that occurred about 3 weeks ago.
The chart below illustrates.
The View From the Weekly Timeframe
At the time of this writing, XB1’s price is up $0.07 (3.74%) from the week prior. XB1 has seen its price go up 8 out of the past 10 weeks, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows XB1’s price action over the past year.
Gasoline (XB1) Down $0 On 4 Hour Chart, Underperforms All energy commodity; Moves Down For the 4th Straight Day
Those trading within the energy commodity asset class should know that gasoline was the worst performer in the class today.
Gasoline (XB1) Down $0 Over Past 4 Hours; Came Into Today Down For the 3rd Straight Day
Relative to other instruments in the energy commodity asset class, gasoline ranked 5th since the day prior in terms of percentage price change.
Gasoline (XB1) Down $0 in Last 4 Hours, Underperforms All energy commodity; Entered Today Down 1.18%
On a relative basis, gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class today.
Gasoline (XB1) Down $0 in Last 4 Hours, Entered Today Up 0.44%; in an Uptrend Over Past 90 Days
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.
Gasoline (XB1) Down $0 On 4 Hour Chart, Underperforms All energy commodity; But Still in an Uptrend Over Past 90 Days
On a relative basis, gasoline was the worst performer out of all 6 of the assets in the energy commodity asset class today.
Gasoline (XB1) Down $0 Over Past 4 Hours, 5 Day Up Streak Ended; in an Uptrend Over Past 14 Days
Out of the 6 instruments in the energy commodity asset class, gasoline ended up ranking 5th for the day in terms of price change relative to the day prior.
Gasoline (XB1) Down $0 in Last 4 Hours; Entered Today Up For the 3rd Day In A Row
Relative to other instruments in the energy commodity asset class, gasoline ranked 4th since yesterday in terms of percentage price change.
Gasoline (XB1) Down $0 On 4 Hour Chart, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Out of the 6 instruments in the energy commodity asset class, gasoline ended up ranking 5th for the day in terms of price change relative to yesterday.
Gasoline (XB1) Down $0 On 4 Hour Chart, Started Today Up 0.44%; Price Base in Formation Over Past 14 Days
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.