### **Heating Oil (HO) – Head & Shoulders Breakdown, More Downside Ahead?**
Heating Oil (HO) has formed a **Head and Shoulders** pattern on the **15-minute chart**, signalling a potential **bearish reversal**. The breakdown of the **neckline** suggests that further downside is likely.
### **Key Observations:**
✅ **Head & Shoulders Breakdown** – The price has completed the right shoulder and is breaking lower.
✅ **Bearish Targets** – Possible move towards the **2.218** support area, with extended targets even lower.
✅ **Declining Demand Due to Warmer Weather** –
- Warmer temperatures reduce the need for heating oil as residential and commercial heating demand drops.
- Weather forecasts indicate above-average temperatures, limiting short-term demand.
- Lower demand from key regions contributes to downward pressure on prices.
### **Trading Plan:**
📉 **Bearish Bias** – Short opportunities on pullbacks, targeting the marked demand zones.
📊 **Risk Management** – Stop-loss above the right shoulder to protect against invalidation.
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Heating Oil (HO) has formed a **Head and Shoulders** pattern on the **15-minute chart**, signalling a potential **bearish reversal**. The breakdown of the **neckline** suggests that further downside is likely.
### **Key Observations:**
✅ **Head & Shoulders Breakdown** – The price has completed the right shoulder and is breaking lower.
✅ **Bearish Targets** – Possible move towards the **2.218** support area, with extended targets even lower.
✅ **Declining Demand Due to Warmer Weather** –
- Warmer temperatures reduce the need for heating oil as residential and commercial heating demand drops.
- Weather forecasts indicate above-average temperatures, limiting short-term demand.
- Lower demand from key regions contributes to downward pressure on prices.
### **Trading Plan:**
📉 **Bearish Bias** – Short opportunities on pullbacks, targeting the marked demand zones.
📊 **Risk Management** – Stop-loss above the right shoulder to protect against invalidation.
🚨 **Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also, share your ideas and charts in the comments section below! This is the best way to keep it relevant, support us, keep the content here free, and allow the idea to reach as many people as possible.**
🚀🔥
Dagangan aktif
going to targets Dagangan ditutup: hentian tercapai
Nota
i really hates when they stopped me out and then goes to the targets im re enter again
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.