Heating Oil (HO1) Up $0.03 Over Past 4 Hours, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart

Heating Oil 4 Hour Price Update

Updated October 16, 2020 12:50 AM GMT (08:50 PM EST)

Heating Oil is up 2.58% ($0.03) since the last 4 hour candle, marking the 2nd straight candle it has gone up. On a relative basis, the current 4 hour candle were pretty good: Heating Oil bested all 6 of the assets in the energy commodity class 🙂

Heating Oil Daily Price Recap

The choppiness in the recent daily price action of Heating Oil continues; to start today, it came in at a price of 1.1882 US dollars, down 0.72% ($0.01) since the day prior. Relative to other instruments in the energy commodity asset class, Heating Oil ranked 4th since the day prior in terms of percentage price change. Here is a daily price chart of Heating Oil.


Heating Oil Technical Analysis

Coming into today Heating Oil is now close to its 50 and 100 day averages, located at 1.17 and 1.18 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Heating Oil’s price has gone up 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Over on Twitter, here were the top tweets about Heating Oil:

  • From Virginian_x:

    @shanemccarrick @NewstalkFM @NTBreakfast We pay over 250% tax on fuel for private motoring, me pay circa 300% more tax on Home Heating oil than the UK. Jet fuel is taxed at 0%. Nothing done to reduce Industrial emissions, commercial vehicle emissions. The soft targets hit time and again @EamonRyan

  • From wutrain:

    East Boston is already one of the most densely polluted environmental justice communities in the state: a working-class, immigrant neighborhood, w/the airport & most of the region’s jet fuel & heating oil, home to some of the city’s highest asthma & #COVID19 rates.

  • From GeriBeri1:

    @Costellop @greenparty_ie A 10 cent per hour raise on min wage , people with older vehicles who can’t afford electric cars punished, home heating oil increase hitting the most vulnerable yet again, nothing to brag about

In terms of news links for Heating Oil here’s one to try:

The UK’s Only #1 Commission & Charge Free Heating Oil Website

We make it easier and quicker for you to obtain multiple heating oil quotes from suppliers to your postcode….Some heating oil suppliers will be local.

“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram