Ethanol 4 Hour Price Update
Updated September 08, 2020 03:06 AM GMT (11:06 PM EST)
Ethanol is down 16.54% ($0.22) since the last 4 hour candle, marking the 2nd straight candle it has gone down. On a relative basis, Ethanol was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.
Ethanol Daily Price Recap
Ethanol closed yesterday down 16.54% ($0.22); this denotes 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
Notably, Ethanol crossed below its 20, 50, 100 and 200 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
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