Ethanol (DL1) Up $0.21 Over Past 4 Hours, Underperforms All energy commodity; Makes Big Move Relative to Past Two Months

Ethanol 4 Hour Price Update

Updated September 10, 2020 12:49 AM GMT (08:49 PM EST)

1.305 was the closing price of the four-hour candle for Ethanol, resulting in the current 4 hour candle being one in which price moved up 19.72% ($0.21) from the last 4 hour candle. On a relative basis, the current 4 hour candle were pretty good: Ethanol bested all 6 of the assets in the energy commodity class 🙂

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 1.1 US dollars, down 15.71% ($0.2) since the day prior. On a relative basis, Ethanol was the worst performer out of all 6 of the assets in the energy commodity asset class today. Here is a daily price chart of Ethanol.


Ethanol Technical Analysis

First things first: Ethanol crossed below its 20, 50, 100 and 200 day moving averages yesterday. 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. For additional context, note that price has gone up 5 out of the past 14 days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram