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 05/15/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

61%

22%

My opinion

Bearish under 2.5681 USD

My targets

2.4106 USD (-0.84%)

2.2073 USD (-9.20%)

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 2.5681 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.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

7.5

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 price is 2.4310 USD. The price has increased by +0.46% since the last closing and was traded between 2.4261 USD and 2.4368 USD over the period. The price is currently at +0.20% from its lowest and -0.24% from its highest.

2.4261

2.4368

2.4310

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

Here is a more detailed summary of the historical variations registered by HEATING OIL:

The Central Records scanner for higher/lower results shows the following items:

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 moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily

RSI indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : Daily

Bullish harami cross

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.2537	1.8416	2.4106	2.4310	2.6154	2.7883	3.1702
Change (%)	-48.43%	-24.25%	-0.84%	-	+7.59%	+14.70%	+30.41%
Change	-1.1773	-0.5894	-0.0204	-	+0.1844	+0.3573	+0.7392
Level	Intermediate	Major	Major	-	Intermediate	Minor	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.3527	2.3771	2.3985	2.4229	2.4443	2.4687	2.4901
Camarilla	2.4074	2.4116	2.4158	2.4200	2.4242	2.4284	2.4326
Woodie	2.3513	2.3764	2.3971	2.4222	2.4429	2.4680	2.4887
Fibonacci	2.3771	2.3946	2.4054	2.4229	2.4404	2.4512	2.4687

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.3200	2.3732	2.4038	2.4570	2.4876	2.5408	2.5714
Camarilla	2.4114	2.4190	2.4267	2.4344	2.4421	2.4498	2.4575
Woodie	2.3087	2.3676	2.3925	2.4514	2.4763	2.5352	2.5601
Fibonacci	2.3732	2.4052	2.4250	2.4570	2.4890	2.5088	2.5408

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.9688	2.2073	2.3296	2.5681	2.6904	2.9289	3.0512
Camarilla	2.3527	2.3858	2.4188	2.4519	2.4850	2.5181	2.5511
Woodie	1.9107	2.1783	2.2715	2.5391	2.6323	2.8999	2.9931
Fibonacci	2.2073	2.3451	2.4303	2.5681	2.7059	2.7911	2.9289

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):	32.83
MACD (12,26,9):	-0.0557
Directional Movement:	-14.1437
AROON (14):	-85.7142
DEMA (21):	2.4275
Parabolic SAR (0,02-0,02-0,2):	2.5042
Elder Ray (13):	-0.0393
Super Trend (3,10):	2.5900
Zig ZAG (10):	2.4324
VORTEX (21):	0.8245
Stochastique (14,3,5):	11.31
TEMA (21):	2.4062
Williams %R (14):	-84.11
Chande Momentum Oscillator (20):	-0.1136
Repulse (5,40,3):	-1.4222
ROCnROLL:	2
TRIX (15,9):	-0.3079
Courbe Coppock:	9.56

MA7:	2.4487
MA20:	2.4982
MA50:	2.6129
MA100:	2.6339
MAexp7:	2.4451
MAexp20:	2.5003
MAexp50:	2.5761
MAexp100:	2.6066
Price / MA7:	-0.72%
Price / MA20:	-2.69%
Price / MA50:	-6.96%
Price / MA100:	-7.70%
Price / MAexp7:	-0.58%
Price / MAexp20:	-2.77%
Price / MAexp50:	-5.63%
Price / MAexp100:	-6.74%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on HEATING OIL at the time of the generation of this analysis was as follows:

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

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