Post an Analysis Request an analysis AI Londinia analysis

Londinia Opportunities Analyses - 05/02/2024 (GMT) HEATING OIL - 1H

Back to the list
HEATING OIL
- USD (-)
- 10 min delayed data - NYMEX Futures
Type: Commodities
Ticker: HOH5
ISIN:

Londinia
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
  • FX/Indices
  • Timeframe : 1H
  • - Analysis generated on
  • Status : INVALID

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 2.4458 USD
My targets
2.4106 USD (-0.92%)
2.2073 USD (-9.28%)
My analysis
HEATING OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 2.4458 USD. The next support located at 2.4106 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 2.2073 USD. Below this support, sellers could then target 1.8416 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

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
0
10
8.4

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.

Additional analysis

Quotes

HEATING OIL rating 2.4330 USD. On the day, this instrument lost -0.77% and was between 2.4219 USD and 2.4749 USD. This implies that the price is at +0.46% from its lowest and at -1.69% from its highest.

2.4219
2.4749
2.4330

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of HEATING OIL indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour


Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly



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

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 1.2537 1.8416 2.4106 2.4330 2.4458 2.4642 2.5305
Change (%) -48.47% -24.31% -0.92% - +0.53% +1.28% +4.01%
Change -1.1793 -0.5914 -0.0224 - +0.0128 +0.0312 +0.0975
Level Intermediate Major Major - Intermediate 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
Standard2.33632.39102.42152.47622.50672.56142.5919
Camarilla2.42852.43632.44412.45192.45972.46752.4753
Woodie2.32412.38502.40932.47022.49452.55542.5797
Fibonacci2.39102.42362.44372.47622.50882.52892.5614


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard2.43252.47432.51732.55912.60212.64392.6869
Camarilla2.53702.54482.55252.56032.56812.57592.5836
Woodie2.43312.47462.51792.55942.60272.64422.6875
Fibonacci2.47432.50672.52672.55912.59152.61152.6439


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.96882.20732.32962.56812.69042.92893.0512
Camarilla2.35272.38582.41882.45192.48502.51812.5511
Woodie1.91072.17832.27152.53912.63232.89992.9931
Fibonacci2.20732.34512.43032.56812.70592.79112.9289

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): 29.97
MACD (12,26,9): -0.0140
Directional Movement: -19.6783
AROON (14): -50.0000
DEMA (21): 2.4370
Parabolic SAR (0,02-0,02-0,2): 2.4710
Elder Ray (13): -0.0189
Super Trend (3,10): 2.4702
Zig ZAG (10): 2.4310
VORTEX (21): 0.8939
Stochastique (14,3,5): 11.30
TEMA (21): 2.4356
Williams %R (14): -80.19
Chande Momentum Oscillator (20): -0.0358
Repulse (5,40,3): -0.5154
ROCnROLL: 2
TRIX (15,9): -0.0701
Courbe Coppock: 1.58
MA7: 2.5206
MA20: 2.6064
MA50: 2.6527
MA100: 2.6419
MAexp7: 2.4409
MAexp20: 2.4555
MAexp50: 2.4810
MAexp100: 2.5076
Price / MA7: -3.48%
Price / MA20: -6.65%
Price / MA50: -8.28%
Price / MA100: -7.91%
Price / MAexp7: -0.32%
Price / MAexp20: -0.92%
Price / MAexp50: -1.93%
Price / MAexp100: -2.97%

Quotes : - 10 min delayed data - Futures NYMEX

News


Don't forget to follow the news on HEATING OIL. At the time of publication of this analysis, the latest news was as follows:

NEW !