Heating Oil (HO1) Up 3.82%, in a Downtrend Over Past 90 Days; Bullish Engulfing Pattern in Play

Heating Oil Daily Price Recap

0.9989 was the closing price of the day for Heating Oil, resulting in today being one in which price moved up 3.82% ($0.0368) from the previous day. Out of the 6 instruments in the energy commodity asset class, Heating Oil ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Heating Oil.

Heating Oil Technical Analysis

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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 10 out of the past 14 days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 90 and 30 day time periods.

Overheard on Twitter

Behold! Here are the top tweets related to Heating Oil:

  • From Ohdarkthirty1:

    @Yamiche They’d do better to just hand it to the workers.
    I guarantee you, we’d SPEND it! Family who can’t get their Unemployment Compensation processed because “backlog” used their $1200 for car payment, car insurance, heating oil & groceries. That’s it, oh and fucking LATE FEES

  • From Patrice_Brost1:

    @BWestbrookAZ8 Just the necessities: 1st & second mortgage adds up to over $1,800k + food + insurance + medications + paper & cleaning / laundry products + pet supplies & food + electric + water & sewer + heating oil + gas + cable/internet/phone + etc. 😳

  • From NicsNemo:

    @shossy2 Didn’t even cover the rent, we still owe. This doesn’t include electric or heating oil which we require for hot water. Not to mention food or medication. It’s a fucking joke.