HEATING OIL - 1H - Technical analysis published on 12/03/2021 (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:
Slightly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 2.0682 USD
My targets
2.1971 USD (+2.84%)
2.2287 USD (+4.32%)
My analysis
The short-term increase currently reinforces the basic trend, which is only slightly bullish. It would be possible for traders to only trade long positions (at the time of purchase) on HEATING OIL as long as the price remains well above 2.0682 USD. The buyers' bullish objective is set at 2.1971 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 2.2287 USD. If there is any crossing, the next objective would be the resistance located at 2.2934 USD.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
4.8
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
HEATING OIL rating 2.1365 USD. On the day, this instrument gained +1.57% with the lowest point at 2.0881 USD and the highest point at 2.1515 USD. The deviation from the price is +2.32% for the low point and -0.70% for the high point.2.0881
2.1515
2.1365
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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:
Near a 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 slightly bullish. 53.57% of the signals given by moving averages are bullish. This slightly bullish trend could be reinforced 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, 15 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.9659 | 2.0201 | 2.0682 | 2.1365 | 2.1394 | 2.2287 | 2.2934 |
| Change (%) | -7.99% | -5.45% | -3.20% | - | +0.14% | +4.32% | +7.34% |
| Change | -0.1706 | -0.1164 | -0.0683 | - | +0.0029 | +0.0922 | +0.1569 |
| Level | Intermediate | Minor | Major | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.9026 | 1.9547 | 2.0291 | 2.0812 | 2.1556 | 2.2077 | 2.2821 |
| Camarilla | 2.0686 | 2.0802 | 2.0918 | 2.1034 | 2.1150 | 2.1266 | 2.1382 |
| Woodie | 1.9137 | 1.9603 | 2.0402 | 2.0868 | 2.1667 | 2.2133 | 2.2932 |
| Fibonacci | 1.9547 | 2.0031 | 2.0329 | 2.0812 | 2.1296 | 2.1594 | 2.2077 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6737 | 1.8824 | 1.9884 | 2.1971 | 2.3031 | 2.5118 | 2.6178 |
| Camarilla | 2.0080 | 2.0368 | 2.0657 | 2.0945 | 2.1234 | 2.1522 | 2.1810 |
| Woodie | 1.6225 | 1.8567 | 1.9372 | 2.1714 | 2.2519 | 2.4861 | 2.5666 |
| Fibonacci | 1.8824 | 2.0026 | 2.0769 | 2.1971 | 2.3173 | 2.3916 | 2.5118 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3809 | 1.7005 | 1.8888 | 2.2084 | 2.3967 | 2.7163 | 2.9046 |
| Camarilla | 1.9374 | 1.9840 | 2.0305 | 2.0771 | 2.1237 | 2.1702 | 2.2168 |
| Woodie | 1.3153 | 1.6677 | 1.8232 | 2.1756 | 2.3311 | 2.6835 | 2.8390 |
| Fibonacci | 1.7005 | 1.8945 | 2.0144 | 2.2084 | 2.4024 | 2.5223 | 2.7163 |
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): | 60.53 | |
| MACD (12,26,9): | 0.0074 | |
| Directional Movement: | 6.2387 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 2.1243 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.0929 | |
| Elder Ray (13): | 0.0170 | |
| Super Trend (3,10): | 2.0823 | |
| Zig ZAG (10): | 2.1376 | |
| VORTEX (21): | 1.1137 | |
| Stochastique (14,3,5): | 78.16 | |
| TEMA (21): | 2.1325 | |
| Williams %R (14): | -19.40 | |
| Chande Momentum Oscillator (20): | 0.0259 | |
| Repulse (5,40,3): | 0.2671 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0269 | |
| Courbe Coppock: | 2.12 |
| MA7: | 2.1439 | |
| MA20: | 2.3123 | |
| MA50: | 2.4113 | |
| MA100: | 2.2632 | |
| MAexp7: | 2.1309 | |
| MAexp20: | 2.1166 | |
| MAexp50: | 2.1148 | |
| MAexp100: | 2.1407 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -7.60% | |
| Price / MA50: | -11.40% | |
| Price / MA100: | -5.60% | |
| Price / MAexp7: | +0.26% | |
| Price / MAexp20: | +0.94% | |
| Price / MAexp50: | +1.03% | |
| Price / MAexp100: | -0.20% |
Quotes :
-
10 min delayed data
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NYMEX Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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