HEATING OIL - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 2.4568 USD
My targets
2.5102 USD (+0.97%)
2.6154 USD (+5.20%)
My analysis
HEATING OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2.4568 USD. The next resistance located at 2.5102 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.6154 USD. After this resistance, buyers could then target 2.7883 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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Additional analysis
Quotes
The HEATING OIL rating is 2.4861 USD. The price is lower by -0.01% since the last closing with the lowest point at 2.4769 USD and the highest point at 2.4914 USD. The deviation from the price is +0.37% for the low point and -0.21% for the high point.2.4769
2.4914
2.4861
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by HEATING OIL:
Technical
A technical analysis in 1H of this HEATING OIL chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 11 technical indicators on 18 studied are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.4106 | 2.4266 | 2.4568 | 2.4861 | 2.4905 | 2.5102 | 2.6154 |
| Change (%) | -3.04% | -2.39% | -1.18% | - | +0.18% | +0.97% | +5.20% |
| Change | -0.0755 | -0.0595 | -0.0293 | - | +0.0044 | +0.0241 | +0.1293 |
| Level | Major | Intermediate | Major | - | Minor | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.4192 | 2.4350 | 2.4607 | 2.4765 | 2.5022 | 2.5180 | 2.5437 |
| Camarilla | 2.4749 | 2.4787 | 2.4825 | 2.4863 | 2.4901 | 2.4939 | 2.4977 |
| Woodie | 2.4241 | 2.4375 | 2.4656 | 2.4790 | 2.5071 | 2.5205 | 2.5486 |
| Fibonacci | 2.4350 | 2.4509 | 2.4607 | 2.4765 | 2.4924 | 2.5022 | 2.5180 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.2950 | 2.3357 | 2.4110 | 2.4517 | 2.5270 | 2.5677 | 2.6430 |
| Camarilla | 2.4544 | 2.4650 | 2.4757 | 2.4863 | 2.4969 | 2.5076 | 2.5182 |
| Woodie | 2.3123 | 2.3444 | 2.4283 | 2.4604 | 2.5443 | 2.5764 | 2.6603 |
| Fibonacci | 2.3357 | 2.3800 | 2.4074 | 2.4517 | 2.4960 | 2.5234 | 2.5677 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.9688 | 2.2073 | 2.3296 | 2.5681 | 2.6904 | 2.9289 | 3.0512 |
| Camarilla | 2.3527 | 2.3858 | 2.4188 | 2.4519 | 2.4850 | 2.5181 | 2.5511 |
| Woodie | 1.9107 | 2.1783 | 2.2715 | 2.5391 | 2.6323 | 2.8999 | 2.9931 |
| Fibonacci | 2.2073 | 2.3451 | 2.4303 | 2.5681 | 2.7059 | 2.7911 | 2.9289 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 62.91 | |
| MACD (12,26,9): | 0.0078 | |
| Directional Movement: | 11.7080 | |
| AROON (14): | 21.4285 | |
| DEMA (21): | 2.4901 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.4793 | |
| Elder Ray (13): | 0.0030 | |
| Super Trend (3,10): | 2.4653 | |
| Zig ZAG (10): | 2.4861 | |
| VORTEX (21): | 1.0904 | |
| Stochastique (14,3,5): | 80.73 | |
| TEMA (21): | 2.4899 | |
| Williams %R (14): | -21.07 | |
| Chande Momentum Oscillator (20): | 0.0078 | |
| Repulse (5,40,3): | 0.0566 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0516 | |
| Courbe Coppock: | 1.15 |
| MA7: | 2.4472 | |
| MA20: | 2.4850 | |
| MA50: | 2.6007 | |
| MA100: | 2.6324 | |
| MAexp7: | 2.4854 | |
| MAexp20: | 2.4791 | |
| MAexp50: | 2.4645 | |
| MAexp100: | 2.4551 | |
| Price / MA7: | +1.59% | |
| Price / MA20: | +0.04% | |
| Price / MA50: | -4.41% | |
| Price / MA100: | -5.56% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +0.88% | |
| Price / MAexp100: | +1.26% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The last news published on HEATING OIL at the time of the generation of this analysis was as follows:
-
Northeast heating oil shortage a 'problem that's not going away': Gas analyst
-
Heating oil states prepare to pay ‘$5 per gallon or more’ this winter
This member declared not having a position on this financial instrument or a related financial instrument.
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