Heating Oil 4 Hour Price Update
Updated April 07, 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. 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 1.7941 US dollars, up 1.22% ($0.02) since yesterday. On a relative basis, today was pretty good: Heating Oil bested all 6 of the assets in the energy commodity class 🙂 The daily price chart of Heating Oil below illustrates.
Heating Oil Technical Analysis
Coming into today the current price of Heating Oil is sitting close to its 20 and 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 up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 8 out of the past 14 days.