April heating oil prices traded higher during the early morning hours, supported by strength in the crude oil complex, weakness in the US Dollar and the prospect of greater heat-related demand in the Northeast. Some technicians pointed to a technical breakout on the charts with yesterday's rally above $2.80 as an indication of higher pries ahead. However, the $2.80 provides a level of support, and weakness below that level would offset the upside breakout. It is possible that some of the upside in heating oil during Tuesday's session came from higher New York cash pricing in front of below normal temperatures in the Northeast.
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