Ethanol (DL1) Up 5.83%; in a Downtrend Over Past 90 Days

Ethanol Daily Price Recap

Ethanol came into today up 5.83% ($0.06) from the open of the previous day, marking the 2nd day in a row an increase has occurred. Out of the 6 instruments in the energy commodity asset class, Ethanol ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Ethanol.

Ethanol Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For additional context, note that price has gone up 15 out of the past 30 days.