HEATING OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	HOH5
ISIN:

HEATING OIL - 1H - Technical analysis published on 10/18/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

17%

61%

22%

My opinion

Bearish under 2.2006 USD

My targets

2.1518 USD (-1.55%)

2.0771 USD (-4.96%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 2.2006 USD remains possible. It is advisable to trade HEATING OIL with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 2.2006 USD. The next bearish objective for sellers is set at 2.1518 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2.0771 USD. In case of crossing, the next objective would be the support located at 1.9360 USD. PS: if there is a bullish break in the resistance located at 2.2006 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

4.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The HEATING OIL price is 2.1856 USD. On the day, this instrument lost -0.41% with the lowest point at 2.1786 USD and the highest point at 2.2067 USD. The deviation from the price is +0.32% for the low point and -0.96% for the high point.

2.1786

2.2067

2.1856

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of HEATING OIL in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a bearish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.9360	2.0771	2.1518	2.1856	2.2006	2.3164	2.3653
Change (%)	-11.42%	-4.96%	-1.55%	-	+0.69%	+5.98%	+8.22%
Change	-0.2496	-0.1085	-0.0338	-	+0.0150	+0.1308	+0.1797
Level	Major	Intermediate	Intermediate	-	Major	Minor	Intermediate

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	2.1247	2.1408	2.1676	2.1837	2.2105	2.2266	2.2534
Camarilla	2.1827	2.1866	2.1906	2.1945	2.1984	2.2024	2.2063
Woodie	2.1302	2.1435	2.1731	2.1864	2.2160	2.2293	2.2589
Fibonacci	2.1408	2.1572	2.1673	2.1837	2.2001	2.2102	2.2266

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.0722	2.1563	2.2501	2.3342	2.4280	2.5121	2.6059
Camarilla	2.2950	2.3113	2.3276	2.3439	2.3602	2.3765	2.3928
Woodie	2.0771	2.1587	2.2550	2.3366	2.4329	2.5145	2.6108
Fibonacci	2.1563	2.2243	2.2662	2.3342	2.4022	2.4441	2.5121

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.7999	1.9311	2.0526	2.1838	2.3053	2.4365	2.5580
Camarilla	2.1047	2.1279	2.1510	2.1742	2.1974	2.2205	2.2437
Woodie	1.7952	1.9287	2.0479	2.1814	2.3006	2.4341	2.5533
Fibonacci	1.9311	2.0276	2.0872	2.1838	2.2803	2.3399	2.4365

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	48.29
MACD (12,26,9):	0.0016
Directional Movement:	-9.5336
AROON (14):	-35.7142
DEMA (21):	2.1944
Parabolic SAR (0,02-0,02-0,2):	2.2061
Elder Ray (13):	-0.0069
Super Trend (3,10):	2.1806
Zig ZAG (10):	2.1896
VORTEX (21):	1.0248
Stochastique (14,3,5):	21.42
TEMA (21):	2.1955
Williams %R (14):	-60.85
Chande Momentum Oscillator (20):	-0.0035
Repulse (5,40,3):	0.0823
ROCnROLL:	2
TRIX (15,9):	0.0246
Courbe Coppock:	0.21

MA7:	2.2452
MA20:	2.2327
MA50:	2.2477
MA100:	2.3864
MAexp7:	2.1919
MAexp20:	2.1917
MAexp50:	2.1931
MAexp100:	2.2120
Price / MA7:	-2.65%
Price / MA20:	-2.11%
Price / MA50:	-2.76%
Price / MA100:	-8.41%
Price / MAexp7:	-0.29%
Price / MAexp20:	-0.28%
Price / MAexp50:	-0.34%
Price / MAexp100:	-1.19%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on HEATING OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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