Recommendation for Heating Oil:Buy
Buy Stop : Above 2
Stop Loss : Below 1,77
RSI : Neutral
MACD : Buy
MA(200) : Neutral
Fractals : Buy
Parabolic SAR : Buy
Bollinger Bands : Neutral
Chart Analysis
On the daily timeframe, HEATOIL: D1 is trading in an upward channel. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if HEATOIL: D1 rises above its last high: 2. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the last lower fractal and the lower Bollinger line: 1.77. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (1.77) without activating the order (2), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.