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Wednesday, 23 December 2015 11:38

Is Heating Oil ready for ignition?

Is it inversion time for the january 2016 heating oil future?

Looking at patterns (according to the volume spread analysis), we can see a selling climax, followed by a stopping volume and, a few days later, by a no supply bar. A typical bullish sequence...

heating oil futures patterns

If we look at the COT Index, the commercials bullish stance could confirm our guess.

heating oil futures commitment of traders

Also looking at the seasonality we see a bullish trend (now and for the beginning of 2016) that would suggest a reversal.

heating oil futures seasonality

Heating oil futures also show a very high volatility: the implied volatility is at 94.18%, the historical at 33.87%. It seems heating oil is reaching a bottom level, and could be ready to take off.
Remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

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