Heating Oil (HO1) Up $0 On 4 Hour Chart, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Heating Oil 4 Hour Price Update

Updated July 16, 2021 01:53 AM GMT (09:53 PM EST)

Heating Oil closed the previous 4 hours up 0.2% ($0); this denotes the 2nd consecutive candle it has gone up. Heating Oil outperformed all 6 assets in the energy commodity asset class since the previous 4 hours. Congrats to its holders!

Heating Oil Daily Price Recap

Heating Oil closed the day prior down 1.44% ($0.03); this denotes the 2nd consecutive day a decline has happened. Out of the 6 instruments in the energy commodity asset class, Heating Oil ended up ranking 3rd for the day in terms of price change relative to the day prior. The daily price chart of Heating Oil below illustrates.

HO1

Heating Oil Technical Analysis

Notably, Heating Oil crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.