Ethanol (Globex) Weekly Commodity Futures Price Chart : CBOT

Ethanol (Globex)
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Weekly Commodity Futures Price Chart

Ethanol (Globex) (CBOT)

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Contract Specifications:ZK,CBOT
Trading Unit: 29,000 U.S. gallons
Tick Size: One tenth of one cent ($0.001) per gallon ($29 per contract)
Quoted Units: US $ per gallon
Initial Margin: $5,670   Maint Margin: $4,200
Contract Months: All 12 months.
Last Trading Day: The business day prior to the 15th calendar day of the delivery month.
Trading Hours: CBOT Electronic Platform: 6:00 p.m. 6:00 a.m.Chicago Time, Sunday-Friday
Note: Expiring contract closes at 12:00 noon on Last Trading Day.
Daily Limit: Thirty cents ($0.30) per gallon. No spot month limit.

Analysis

Fri 11/21/14

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: The market appears overbought, but may continue to become more overbought before reversing. Look for some price weakness before taking any bearish positions based on this indicator.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Short Term: The market is EXTREMELY BULLISH. Everything in this indicator is pointing to higher prices: the fast average is above the slow average; the fast average is on an upward slope from the previous bar; the slow average is on an upward slope from the previous bar; and price is above the fast average and the slow average.

Conventional Interpretation - Long Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Long Term: Even though based on conventional interpretation the market is technically bearish, we will not classify it as extremely bearish until the following occurs: the fast moving average slope is down from previous bar, price goes below the fast moving average, price goes below the slow moving average.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is above the moving average so the trend is up.

Additional Analysis: Market trend is UP.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: The long term trend is DOWN. The short term trend is up. The short term trend looks a little bottomy. The fact that we've had three up bars of SlowK and we're trading in a low area of the stochastic is a little bullish short term. A possible short term up move may occur.

Swing Index Indicator:

Conventional Interpretation: The swing index is most often used to identify bars where the market is likely to change direction. A signal is generated when the swing index crosses zero. No signal has been generated here.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is in a downtrend based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is UP. Volume is trending higher, allowing for a pick up in volatility.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (29.88) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation, CCI (29.88) is currently long. The current long position position will be reversed when the CCI crosses below zero.

MACD Indicator:

Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. MACD is in bullish territory.

Momentum Indicator:

Conventional Interpretation: Momentum (0.25) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Momentum is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before getting too bearish here.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (13.56) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before closing long positions here.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 53.78). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat overbought (RSI is at 53.78). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence before getting too bearish here.

Stochastic - Fast Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: The long term trend is DOWN. The short term trend is up. SlowK is starting to show the market is overbought. A top may not be far off

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

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