Pattern: 1W Channel Up. Signal: Bullish as the pattern made a Higher Low. Target: 2.1000.
Heating Oil is now approaching the 1D MA50 (light blue line) on a non-stop pull back since the peak of the Saudi attack. The 1D chart is neutral (RSI = 47.087, MACD = 0.011, Highs/Lows = -0.0354) signalling that we are approaching the most optimal buy level. We therefore turn bullish on Heating Oil with our Target Zone: 2.1000 - 2.1370. Note that even though 1D is...
Here's my prediction through next week after current hurricane threats recede. ( A kind reminder that nothing I communicate should be considered investment advice )
stop @ 1.8220 1st target 1.9550
Still tracking percentage correlation and going short through August.
HOF2020-RBF2020 Our trade on this spread between Heating Oil Futures F20 and RBOB Gasoline Futures F20 has started. In 87% of the times this spread is profitable in the seasonal window. Our job is to find the best time both statistically and technically.
Pattern: Channel Up on 1W. Signal: Bullish after a similar sequence has been spotted both on the candle and RSI action. Target: 2.1400 (1D Resistance).
With oil fiasco all around, heating oil has a very strong correlation with crude oil. technically price at 61.8% supply levels. currently awaiting a drop from current levels to demand levels of 21.00 handle
Heating Oil has been trading on a very steady 4H Channel Up (RSI = 62.494, MACD = 0.014, Highs/Lows = 0.0000) and is currently on its Higher Low. Our long TP is 2.1000, as long as the Channel is holding. The previous bullish run of February 11 - 19, shows that around +8%, the price breaks the uptrend and pulls back on a lengthy descending channel. If the current...
Trading Signal Long Position (EP) : 1.9041 Stop Loss (SL) : 1.8883 Take Profit (TP) : 1.9725 Description HOH2019 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (1.9041) and place stop after 0.618 level (1.8883). Once the position was hit, place take profit before an agreement (1.9725) Money Management Money in...
Trading Signal Long Position (EP) : 1.9041 Stop Loss (SL) : 1.8883 Take Profit (TP) : 1.9725 Description HOH2019 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (1.9041) and place stop after 0.618 level (1.8883). Once the position was hit, place take profit before an agreement (1.9725) Money Management Money in...
Trading Signal Short Position (EP) : 1.8883 Stop Loss (SL) : 1.9041 Take Profit (TP) : 1.8563, 1.8167 Description HO formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (1.8883) and place stop after 0.618 level (1.9041). Once the position was hit, place take profit before an agreement (1.8563) and 1.8167 Money Management ...
The Energy complex currently has mixed signals. However, the New York Heating Oil contract appears to be setting up for a bull run. With the Minor Pivot Stack providing support, the price looks like it is readying for a move up. Go long if the price breaks above 1.9065 and place a stop loss at 1.8660. With a profit target at 2.0545, this makes for a good...
Short drop in rig count amid lackluster China news make me think we are heading for the downs unless we get some good news. Or maybe we can hold out for another prolonged bomb cyclone event.