Heating Oil 4 Hour Price Update
Updated July 08, 2021 01:53 AM GMT (09:53 PM EST)
Heating Oil came into the current 4 hour candle up 0.2% ($0) from the open of the previous 4 hours, marking 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 yesterday down 0.75% ($0.02); this denotes the 2nd consecutive day it has gone down. On a relative basis, today was pretty good: Heating Oil bested all 6 of the assets in the energy commodity class 🙂 Here is a daily price chart of Heating Oil.
Heating Oil Technical Analysis
The first thing we should note is that 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. 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 another vantage point, consider that Heating Oil’s price has gone up 18 of the previous 30 trading days.