Ethanol 4 Hour Price Update
Updated July 28, 2020 03:06 AM GMT (11:06 PM EST)
Ethanol closed the previous 4 hours down 7.83% ($0.09); this denotes the 2nd candle in a row a decrease has occurred. 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 7.83% ($0.09) from the open of the previous day, 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. The daily price chart of Ethanol below illustrates.
Ethanol Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Ethanol crossed below its 50 and 100 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 9 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Behold! Here are the top tweets related to Ethanol:
- From gkarani1:
@shingaiRndoro @kudzie_sharara Zimbabwe prices are never cost based . Look at the justification of ethanol prices, they said they are charging 1.3 usd per liter because they wer charging that price 5 years ago.