Ethanol (DL1) Fares the Worst Out of Energy Commodities, Crosses 20 Day Moving Average; in a Downtrend Over Past 30 Days

Ethanol Daily Price Recap

The choppiness in the recent daily price action of Ethanol continues; to start today, it came in at a price of 0.885 US dollars, down 7.81% ($0.075) since yesterday. On a relative basis, Ethanol was the worst performer out of all 6 of the assets in the energy commodity asset class today. The daily price chart of Ethanol below illustrates.

Ethanol Technical Analysis

Notably, Ethanol crossed below its 20 day moving average yesterday. 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 down. Or to view things another way, note that out of the past 30 days Ethanol’s price has gone down 16 them.