Heating Oil Has Interesting Chart Pattern
Michael Seery of Seery Futures - InsideFutures.com - Wed May 15, 6:41PM CDT

[caption id="attachment_1601" align="alignnone" width="393"]

Heating oil delivery, nozzle placed into oil tank to refill - in a residential property[/caption]

Heating Oil Futures---Heating oil futures in the June contract is currently trading higher by 70 points at 2.0933 as we have been stuck in a tight 6 week consolidation pattern as a breakout is looming in my opinion.

The entire energy sector is in a battle between the bulls and the bears as there is huge tension in the Mideast at the present time, but then on the opposite side there is no trade deal between the United States and China as many commodity sectors are at multi-year lows as I'm keeping a close eye on this commodity.

Heating oil prices bottomed out on December 26th around the 161 level while then experiencing a significant rally in 2019 as I think the risk/reward will start to be in your favor if a break out occurs.

The chart structure is outstanding at the current time as we have been trading within a 700 point range over the last month so keep your radar on this commodity as the longer the consolidation the stronger the breakout in my opinion.

TREND: MIXED--HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: 5da1f85979b7117b

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.