HEATING OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	HOH5
ISIN:

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

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

50%

33%

My opinion

Bearish under 2.3053 USD

My targets

2.0771 USD (-3.94%)

1.9360 USD (-10.46%)

My analysis

The bearish trend is currently very strong for HEATING OIL. As long as the price remains below the resistance at 2.3053 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2.0771 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.9360 USD as an objective. Crossing it would then enable sellers to target 1.3502 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

7.1

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 rating is 2.1622 USD. On the day, this instrument lost -1.47% and was between 2.1591 USD and 2.2067 USD. This implies that the price is at +0.14% from its lowest and at -2.02% from its highest.

2.1591

2.2067

2.1622

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 the following items:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this HEATING OIL chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further decline is low given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

MACD indicator is back under 0

Type : Bearish

Timeframe : Daily

Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.9360	2.0771	2.1518	2.1622	2.3653	2.5071	2.7055
Change (%)	-10.46%	-3.94%	-0.48%	-	+9.39%	+15.95%	+25.13%
Change	-0.2262	-0.0851	-0.0104	-	+0.2031	+0.3449	+0.5433
Level	Major	Intermediate	Intermediate	-	Intermediate	Intermediate	Major

Attention could also be paid to pivot points to set price objectives:

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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	43.75
MACD (12,26,9):	-0.0043
Directional Movement:	-5.1405
AROON (14):	35.7142
DEMA (21):	2.2269
Parabolic SAR (0,02-0,02-0,2):	2.3756
Elder Ray (13):	-0.0466
Super Trend (3,10):	2.1320
Zig ZAG (10):	2.1622
VORTEX (21):	0.9705
Stochastique (14,3,5):	25.34
TEMA (21):	2.2415
Williams %R (14):	-75.81
Chande Momentum Oscillator (20):	-0.0045
Repulse (5,40,3):	-2.2483
ROCnROLL:	2
TRIX (15,9):	0.0446
Courbe Coppock:	4.75

MA7:	2.2408
MA20:	2.2319
MA50:	2.2474
MA100:	2.3862
MAexp7:	2.2155
MAexp20:	2.2327
MAexp50:	2.2705
MAexp100:	2.3599
Price / MA7:	-3.51%
Price / MA20:	-3.12%
Price / MA50:	-3.79%
Price / MA100:	-9.39%
Price / MAexp7:	-2.41%
Price / MAexp20:	-3.16%
Price / MAexp50:	-4.77%
Price / MAexp100:	-8.38%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on HEATING OIL at the time of the analysis were as follows:

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

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