HEATING OIL - 1H - Technical analysis published on 08/20/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 3.6874 USD
My targets
3.7391 USD (+1.04%)
3.9353 USD (+6.35%)
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 3.6874 USD. The next resistance located at 3.7391 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 3.9353 USD. After this resistance, buyers could then target 4.4038 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.9
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This analysis was given by vishr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The HEATING OIL price is 3.7005 USD. The price registered an increase of +1.39% on the session and was traded between 3.5666 USD and 3.7391 USD over the period. The price is currently at +3.75% from its lowest and -1.03% from its highest.3.5666
3.7391
3.7005
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 3.5666 | 3.6332 | 3.6874 | 3.7005 | 3.7391 | 3.9353 | 4.4038 |
| Change (%) | -3.62% | -1.82% | -0.35% | - | +1.04% | +6.35% | +19.01% |
| Change | -0.1339 | -0.0673 | -0.0131 | - | +0.0386 | +0.2348 | +0.7033 |
| Level | Intermediate | Major | Major | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.4866 | 3.5343 | 3.5920 | 3.6397 | 3.6974 | 3.7451 | 3.8028 |
| Camarilla | 3.6207 | 3.6304 | 3.6400 | 3.6497 | 3.6594 | 3.6690 | 3.6787 |
| Woodie | 3.4916 | 3.5368 | 3.5970 | 3.6422 | 3.7024 | 3.7476 | 3.8078 |
| Fibonacci | 3.5343 | 3.5746 | 3.5994 | 3.6397 | 3.6800 | 3.7048 | 3.7451 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.8492 | 2.9958 | 3.2568 | 3.4034 | 3.6644 | 3.8110 | 4.0720 |
| Camarilla | 3.4057 | 3.4431 | 3.4804 | 3.5178 | 3.5552 | 3.5925 | 3.6299 |
| Woodie | 2.9064 | 3.0244 | 3.3140 | 3.4320 | 3.7216 | 3.8396 | 4.1292 |
| Fibonacci | 2.9958 | 3.1515 | 3.2477 | 3.4034 | 3.5591 | 3.6553 | 3.8110 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.5384 | 2.9046 | 3.1723 | 3.5385 | 3.8062 | 4.1724 | 4.4401 |
| Camarilla | 3.2657 | 3.3238 | 3.3819 | 3.4400 | 3.4981 | 3.5562 | 3.6143 |
| Woodie | 2.4892 | 2.8800 | 3.1231 | 3.5139 | 3.7570 | 4.1478 | 4.3909 |
| Fibonacci | 2.9046 | 3.1468 | 3.2964 | 3.5385 | 3.7807 | 3.9303 | 4.1724 |
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): | 58.88 | |
| MACD (12,26,9): | 0.0201 | |
| Directional Movement: | 8.1176 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 3.6820 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.6270 | |
| Elder Ray (13): | 0.0180 | |
| Super Trend (3,10): | 3.6105 | |
| Zig ZAG (10): | 3.6815 | |
| VORTEX (21): | 1.0358 | |
| Stochastique (14,3,5): | 71.00 | |
| TEMA (21): | 3.6875 | |
| Williams %R (14): | -33.39 | |
| Chande Momentum Oscillator (20): | 0.0780 | |
| Repulse (5,40,3): | -0.0762 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0516 | |
| Courbe Coppock: | 3.31 |
| MA7: | 3.5530 | |
| MA20: | 3.4661 | |
| MA50: | 3.6955 | |
| MA100: | 3.5491 | |
| MAexp7: | 3.6820 | |
| MAexp20: | 3.6577 | |
| MAexp50: | 3.6221 | |
| MAexp100: | 3.5703 | |
| Price / MA7: | +4.15% | |
| Price / MA20: | +6.76% | |
| Price / MA50: | +0.14% | |
| Price / MA100: | +4.27% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.65% | |
| Price / MAexp50: | +1.64% | |
| Price / MAexp100: | +3.11% |
Quotes :
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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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