Mixed sentiment sees Heating Oil ending the day broadly flat; establishes tight $2.33 to $2.39 range

NYMEX Heating Oil is trading at $2.38 per gallon after closing the previous day at $2.38.

NYMEX Heating Oil is currently trading at $2.38 following the release of ISM Manufacturing PMI (Apr) data from the United States.

NYMEX Heating Oil's state is reflected by market data as United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States ISM Manufacturing Prices (Apr) released today at 14:00 UTC with a figure of 53.2, while the previous figure was 49.2. United States ISM Manufacturing Employment (Apr) came out at 50.2, while a consensus of analysts was expecting 47.9.

Heating Oil made an initial breakout above its 5 day Simple Moving Average at $2.39, a potential indicator of a newly emerging bullish phase. NY Heating Oil's upper Bollinger Band® is at $2.78 and the lower is $2.3.

Overall, looking at the technical analysis landscape, it seems NY Heating Oil might be pointing upward in the short term.

Meanwhile, mixed performances are seen in other Energy as after ending Friday's session at $2.41, Natural Gas lost 10.1 cents and is trading around $2.31. Crude Oil is down to $75.69, losing $1.09, after closing at $76.78 in the preceding trading session. Brent Crude Oil is down to $79.35, losing 98 cents, after closing at $80.33 in the preceding trading session.

Moreover, United States JOLTs Job Openings (Mar) is scheduled for tomorrow at 14:00 UTC.

The commodity has been trending lower for about 3 months. NYMEX Heating Oil has fallen back around 48.9% from the significant high of $4.65 set 6 months ago.