Ethanol 4 Hour Price Update
Updated September 17, 2020 12:49 AM GMT (08:49 PM EST)
The choppiness in the recent four-hour candle price action of Ethanol continues; to start the current 4 hour candle, it came in at a price of 1.29 US dollars, down 1.53% ($0.02) since the previous 4 hours. On a relative basis, Ethanol was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.
Ethanol Daily Price Recap
Ethanol is down 14.73% ($0.19) since the day prior, marking the 2nd consecutive day a decline has happened. Those trading within the energy commodity asset class should know that Ethanol was the worst performer in the class today. Below is a daily price chart of Ethanol.
Ethanol Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Ethanol crossed below its 50, 100 and 200 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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. For another vantage point, consider that Ethanol’s price has gone up 14 of the previous 30 trading 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