Bearish Heating Oil mostly flat today, trading at $2.6

Having lost 16.92 cents over 3 days, Today is looking a bit better: NY Heating Oil trades at $2.6 per gallon, after ending yesterday at $2.6.

United States Building Permits (Feb) is next today at 12:30 UTC.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Heating Oil has potential of recording further declines after crossing its lower Bollinger Band® at $2.64.

Despite the market lacking direction, technical chart analysis strongly suggests Heating Oil Futures is positioned for a downward move in the near term.

Meanwhile, mixed performances are seen in other Energy as Brent Crude Oil is up 1.38%. Crude Oil is up 1.27%.

Moreover, United States Philadelphia Fed Manufacturing Index (Mar) is scheduled for today at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 205,000, having previously been at 211,000. The figure will be published today at 12:30 UTC. United States Building Permits (Feb) is expected today at 12:30 UTC.

The commodity has been trending lower for about a month. NYMEX Heating Oil has lost 2.51% over the last 7 days.