Heating Oil

(Last Updated August 4, 2020)

Welcome to the news page for Heating Oil (HO1). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90 and 30 day timeframes, we see an uptrend in place for HO1.

HO1 Moving Averages

HO1’s moving averages tell a multi-facted story about its trend. The 50 and 100 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 200 day averages that imply a bearish trend. Interestingly, today we saw the 20 day moving average turn bearish, while the 100 day moving average turned bullish.

The chart below illustrates.

The View From the Weekly Timeframe

At the time of this writing, HO1’s price is up $0 (0.31%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. HO1’s weekly price action over the past 52 weeks can be seen via the chart below.