Ethanol (DL1) Down $0 On 4 Hour Chart, Entered Today Down 0%; in an Uptrend Over Past 14 Days

Ethanol 4 Hour Price Update

Updated May 27, 2021 01:52 AM GMT (09:52 PM EST)

Ethanol closed the last 4 hour candle down 0% ($0); this denotes 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 last 4 hour candle.

Ethanol Daily Price Recap

Ethanol came into today down 0% ($0) from the open of the previous day, marking 5th day in a row it is unchanged. On a relative basis, Ethanol 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 Ethanol.

DL1

Ethanol Technical Analysis

The first thing we should note is that Ethanol is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Ethanol’s price has gone up 1 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.