Heating Oil (HO1) Up $0 On 4 Hour Chart, Started Today Up 0.67%; in an Uptrend Over Past 30 Days

Heating Oil 4 Hour Price Update

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

Heating Oil closed the last 4 hour candle up 0.2% ($0); this denotes the 2nd consecutive 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

Heating Oil entered today at $2.052, up 0.67% ($0.01) from yesterday. Relative to other instruments in the energy commodity asset class, Heating Oil ranked 5th since yesterday in terms of percentage price change. The daily price chart of Heating Oil below illustrates.

HO1

Heating Oil Technical Analysis

The first thing we should note is that Heating Oil is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Heating Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. 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. Or to view things another way, note that out of the past 30 days Heating Oil’s price has gone up 20 them.