Heating Oil still looks indecisive as it trades even at $2.7

It's been more of the same this session on the back of 9 days of flat trade, Today's session so far looks to be heading in a similar way — NYMEX Heating Oil trades at $2.7 per gallon, after ending yesterday at $2.7.

United States Initial Jobless Claims is next.

Uncertainty around Heating Oil Futures is reflected by published market data as highly important Crude Oil Inventories data from United States beat analyst expectations of -583,000 with a reading of 597,000. United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 5%, while the previous figure was 6%.

Heating Oil's upper Bollinger Band® is at $2.86 and the lower is $2.59.

Despite muted price action in Heating Oil Futures, chart analysis indicates it is positioned for a bullish run in the short term.

Moreover, United States Producer Price Index is projected to outperform its last figure with 0.1%, having previously been at -0.1%. The figure will be published today at 12:30 UTC. As things stand, upcoming United States Core Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 232,000 while previous data was 228,000; data will be released today at 12:30 UTC.

The commodity has been trending lower for about 2 months. Heating Oil Futures has shed 31.35% over the past six months.