Ethylene broke-down the 200 Moving Average demand area, which is a bearish technical event.

After 4 months of sideways behavior, the Ethylene MBEc1 future contract, finally failed getting into the next support area at the 24 cts/pound.

Note that below the referred 24 level, next support is only at 20 cts/pound. In addition, ethylene shows a very fluid path, which will eventually facilitate the referred possible down move.

Prices and Charts provided by MetaStock powered by EIKON Thomson Reuters, alerts provided by e-globalTrading