Ethanol (DL1) Down $0 in Last 4 Hours, Moves Down For 7th Straight Day; Pin Bar Pattern Appearing on Chart

Ethanol 4 Hour Price Update

Updated February 23, 2021 01:53 AM GMT (09:53 PM EST)

Ethanol is down 0% ($0) since the previous 4 hours, marking 4th candle in a row it is unchanged. 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 previous 4 hours.

Ethanol Daily Price Recap

Ethanol is down 0% ($0) since the previous day, marking 7th straight day it is unchanged. Relative to other instruments in the energy commodity asset class, Ethanol ranked 5th since the previous day in terms of percentage price change. The daily price chart of Ethanol below illustrates.

DL1

Ethanol Technical Analysis

Notably, 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 additional context, note that price has gone up 4 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.