After four days of going down, WTI crude oil is stable today, trading around $67.38

US crude oil trades at $67.38 per barrel after gaining 26 cents (0.39%).

This uncertain state for US crude oil is reflected by published market data as United States Federal Budget Balance (May) came out at -240 billion, while a consensus of analysts was expecting -236 billion. United States 10-Year Note Auction released today at 17:00 UTC with a figure of 3.791, while the previous figure was 3.448. United States 3-Year Note Auction came out at 4.202.

As the trading day comes to an end, chart analysis indicates Crude Oil is approaching key support, around $1.46 away from $65.92. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. With regards to technical trend indicators, chart analysis show 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. West Texas crude formed a session range of $67.21 to $67.43 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $68.25. According to asset volatility analysis, WTI crude's upper Bollinger Band® is at $75.22 and the lower is $67.32.

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

Meanwhile, mixed performances are seen in other Energy as Heating Oil moves 0.38% to trade around $2.32. Brent Crude Oil trades around $72.12, with no major change. Natural Gas moves 0.57% to trade around $2.28.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 4.1%. It previously stood at 4.9%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.