After five days of declines, US crude oil is up $2.1 today

After closing the previous trading day at $68.56, WTI crude oil is up to $70.66 per barrel, which makes for a move of 3.06%/$2.1 today.

New United States Average Hourly Earnings improved upon the previous 0.3% figure while also exceeding analyst expectations with a reading of 0.5%.

This move comes while some more positive signs for WTI crude are out as highly important Average Hourly Earnings data from United States beat analyst expectations of 0.3% with a reading of 0.5%. Data for United States Non Farm Payrolls published today at 12:30 UTC came out at 253,000, beating projections of 180,000 and showing improvement over the preceding figure of 165,000. United States Unemployment Rate came out at 3.4, better than analyst estimates of 3.6 and improving upon the previous reading of 3.5.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, WTI crude's lower Bollinger Band® is at $68.23, indicating that the market is oversold and fertile for new buyers.

Overall, the technical outlook suggests West Texas crude is likely to remain muted for the immediate future, with no clear-cut direction.

A look at other Energy also shows upside as Brent Crude Oil ascends 2.84% to trade around $74.56. Heating Oil added 2.34% to its value, now trading at $2.29.

Having soared to a high of $122.09 approximately 10 months ago, West Texas crude is now trading 43.84% lower.