Ethanol 4 Hour Price Update
Updated October 14, 2020 12:49 AM GMT (08:49 PM EST)
Ethanol entered the current 4 hour candle at $1.38, down 1.43% ($0.02) from the last 4 hour candle. Out of the 6 instruments in the energy commodity asset class, Ethanol ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Ethanol Daily Price Recap
Ethanol is down 0% ($0) since yesterday, marking 4th straight day it is flat. Relative to other instruments in the energy commodity asset class, Ethanol ranked 5th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Ethanol.
Ethanol Technical Analysis
Coming into today the current price of Ethanol is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Ethanol has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethanol’s price has gone up 9 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
“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