With equities struggling so far this year, especially Small Caps and Nasdaq stocks, looking elsewhere in bonds and commodities has been prudent and paying off thus far.
For Heating Oil, the weekly chart has been showing a nice triangle pattern after the run up from the 2009 bottom. Right now no confirmed signal of a buy or sell has triggered, However the indicators and price are leaning slightly bullish. I've got this one on my radar for a potential long term buy, if a breakout above roughly $35 occurs. Price is in an area where a decision should occur soon which is why I've published. If you trade futures, you can look at heating oil contracts for a more direct play.
Staying neutral for now, but looks to be lining up for going long.
For Heating Oil, the weekly chart has been showing a nice triangle pattern after the run up from the 2009 bottom. Right now no confirmed signal of a buy or sell has triggered, However the indicators and price are leaning slightly bullish. I've got this one on my radar for a potential long term buy, if a breakout above roughly $35 occurs. Price is in an area where a decision should occur soon which is why I've published. If you trade futures, you can look at heating oil contracts for a more direct play.
Staying neutral for now, but looks to be lining up for going long.