The Hourly View for ET
Currently, ET’s price is down $-0.03 (-0.43%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
ET’s Technical Outlook on the Daily Chart
Currently, ET’s price is up $0.1 (1.24%) from the day prior. The daily chart shows that ET has seen 2 straight up days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows ET’s price action over the past 90 days.
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The post Energy Transfer LP (ET): Price Now Near $8.18; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.
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