Heating Oil 4 Hour Price Update
Updated May 25, 2020 11:07 PM GMT (07:07 PM EST)
The back and forth price flow continues for Heating Oil, which started the current 4 hour candle off at 0.9832 US dollars, down 0.9% ($0.01) from the last 4 hour candle. Relative to other instruments in the energy commodity asset class, Heating Oil ranked 3rd since the last 4 hour candle in terms of percentage price change.
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 0.9832 US dollars, down 0.9% ($0.01) since yesterday. Relative to other instruments in the energy commodity asset class, Heating Oil ranked 3rd since yesterday in terms of percentage price change. Here is a daily price chart of Heating Oil.
Heating Oil Technical Analysis
Notably, the current price of Heating Oil is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Heating Oil for the past day were:
- From local24mike:
My Dad worked in a warehouse. My next door neighbor worked for a heating oil company. The guy who lived across the street worked for the electric company. The man who lived at the end of the street was a milkman. Every one of them saw action In WWII. They did what they had to do.
- From carmine248:
@JoyAnnReid I guess you’re proud hanging out with Al Sharpton the biggest racist and former drug dealer that didn’t pay his heating oil bill of $8k in Brooklyn NY .. He stiffed the oil company and threatened to boycott the company all because he didn’t want to pay up ..
- From GraniteGeek:
I’m not sure how much working from home cuts my greenhouse gas emissions in winter, because I keep the house warmer – I use less gas but use more heating oil. This time of year, though, it’s a clear benefit.