Ethanol (DL1) Down $0 On 4 Hour Chart, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average

Ethanol 4 Hour Price Update

Updated May 24, 2021 01:53 AM GMT (09:53 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 closed the day prior down 0% ($0); this denotes 2nd consecutive day it is unchanged. Out of the 6 instruments in the energy commodity asset class, Ethanol ended up ranking 5th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Ethanol.

DL1

Ethanol Technical Analysis

Coming into today 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 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Ethanol’s price has gone up 9 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.