Crude Oil (CL1) Up $0.61 Over Past 4 Hours, Fares the Worst Out of energy

Crude Oil 4 Hour Price Update

Updated October 26, 2020 12:50 AM GMT (08:50 PM EST)

The choppiness in the recent four-hour candle price action of Crude Oil continues; to start the current 4 hour candle, it came in at a price of 40.64 US dollars, up 1.52% ($0.61) since the previous 4 hours. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 4th since the previous 4 hours in terms of percentage price change.

Crude Oil Daily Price Recap

39.85 was the closing price of the day for Crude Oil, resulting in today being one in which price moved down 1.94% ($0.79) from the day prior. On a relative basis, Crude Oil was the worst performer out of all 6 of the assets in the energy commodity asset class today. Below is a daily price chart of Crude Oil.

Crude Oil Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Crude Oil crossed below its 20, 50 and 100 day moving averages yesterday. Also of note is that on the 14 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 16 out of the past 30 days.

“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram