Technical Signs Suggest XB1’s Uptrend May Be Stalling

The Hourly View for Gasoline

  • At the time of this writing, XB1’s price is up $0 (0.01%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Gasoline. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Gasoline’s hourly price chart is shown below.

XB1

The Daily View for Gasoline

  • At the moment, XB1’s price is down $-0.01 (-0.6%) from the day prior.
  • This is the 2nd day in a row Gasoline has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Gasoline. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence alert: Trend in XB1’s price and its RSI are diverging. XB1’s price is rising slower than its RSI.

Below is a daily price chart of Gasoline.

XB1