May Heating oil tested the decending upper parallel line and the 20-day SMA early in the daily session. The resistance held and turned the market lower, where it traded below the prior day’s low, triggering the sell signal (posted in the latest issue of the Traders Market Views Swing Trade Report) and confirming the majar TR swing pattern. this price action portends a new downward swing in the Heating oil with the next reversal swing date due on April 1 and a price target objective at 1.9000.
