HEATING OIL - 1H - Technical analysis published on 10/30/2022 (GMT)
- 199
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : WITHOUT TARGET
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 3.6971 USD
My targets
-
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 3.6971 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, 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
8.4
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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 4.5498 USD. On the day, this instrument gained +4.98% and was traded between 4.3300 USD and 4.6841 USD over the period. The price is currently at +5.08% from its lowest and -2.87% from its highest.4.3300
4.6841
4.5498
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
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 (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 3.2553 | 3.3290 | 3.6019 | 4.5498 |
| Change (%) | -28.45% | -26.83% | -20.83% | - |
| Change | -1.2945 | -1.2208 | -0.9479 | - |
| Level | Minor | Major | 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 | 2.9969 | 3.0939 | 3.2655 | 3.3625 | 3.5341 | 3.6311 | 3.8027 |
| Camarilla | 3.3633 | 3.3880 | 3.4126 | 3.4372 | 3.4618 | 3.4864 | 3.5111 |
| Woodie | 3.0343 | 3.1126 | 3.3029 | 3.3812 | 3.5715 | 3.6498 | 3.8401 |
| Fibonacci | 3.0939 | 3.1965 | 3.2599 | 3.3625 | 3.4651 | 3.5285 | 3.6311 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.2235 | 2.4938 | 2.7147 | 2.9850 | 3.2059 | 3.4762 | 3.6971 |
| Camarilla | 2.8005 | 2.8456 | 2.8906 | 2.9356 | 2.9806 | 3.0257 | 3.0707 |
| Woodie | 2.1988 | 2.4815 | 2.6900 | 2.9727 | 3.1812 | 3.4639 | 3.6724 |
| Fibonacci | 2.4938 | 2.6814 | 2.7974 | 2.9850 | 3.1726 | 3.2886 | 3.4762 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3565 | 1.7252 | 2.0251 | 2.3938 | 2.6937 | 3.0624 | 3.3623 |
| Camarilla | 2.1410 | 2.2023 | 2.2636 | 2.3249 | 2.3862 | 2.4475 | 2.5088 |
| Woodie | 1.3220 | 1.7080 | 1.9906 | 2.3766 | 2.6592 | 3.0452 | 3.3278 |
| Fibonacci | 1.7252 | 1.9806 | 2.1384 | 2.3938 | 2.6492 | 2.8070 | 3.0624 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 74.89 | |
| MACD (12,26,9): | 0.0982 | |
| Directional Movement: | 40.6536 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 4.5696 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.4875 | |
| Elder Ray (13): | 0.1216 | |
| Super Trend (3,10): | 4.4149 | |
| Zig ZAG (10): | 4.6520 | |
| VORTEX (21): | 1.2120 | |
| Stochastique (14,3,5): | 76.28 | |
| TEMA (21): | 4.6044 | |
| Williams %R (14): | -9.13 | |
| Chande Momentum Oscillator (20): | 0.3169 | |
| Repulse (5,40,3): | 2.3090 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2690 | |
| Courbe Coppock: | 9.88 |
| MA7: | 4.0832 | |
| MA20: | 3.9447 | |
| MA50: | 3.6243 | |
| MA100: | 3.5711 | |
| MAexp7: | 4.5589 | |
| MAexp20: | 4.4464 | |
| MAexp50: | 4.2981 | |
| MAexp100: | 4.1676 | |
| Price / MA7: | +11.43% | |
| Price / MA20: | +15.34% | |
| Price / MA50: | +25.54% | |
| Price / MA100: | +27.41% | |
| Price / MAexp7: | -17.63% | |
| Price / MAexp20: | -15.54% | |
| Price / MAexp50: | -12.63% | |
| Price / MAexp100: | -9.89% |
Quotes :
-
10 min delayed data
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NYMEX Futures
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:
-
Northeast heating oil shortage a 'problem that's not going away': Gas analyst
-
Heating oil states prepare to pay ‘$5 per gallon or more’ this winter
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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