Ethanol (DL1) Down $0.22 On 4 Hour Chart, Underperforms All energy commodity; Breaks Below 20, 50, 100 and 200 Day Averages

Ethanol 4 Hour Price Update

Updated September 08, 2020 11:07 PM GMT (07:07 PM EST)

Ethanol is down 16.54% ($0.22) since the last 4 hour candle, marking the 2nd consecutive candle a decline has happened. Those trading within the energy commodity asset class should know that Ethanol was the worst performer in the class the current 4 hour candle.

Ethanol Daily Price Recap

Ethanol came into today down 16.54% ($0.22) from the open of the day prior, marking the 2nd day in a row a decline has happened. On a relative basis, Ethanol was the worst performer out of all 6 of the assets in the energy commodity asset class today. Let’s take a look at the daily price chart of Ethanol.


Ethanol Technical Analysis

First things first: Ethanol crossed below its 20, 50, 100 and 200 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Ethanol’s price has gone up 12 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

“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