Mixed sentiment sees Heating Oil ending the day broadly flat; establishes tight $2.33 to $2.38 range

Heating Oil recovers back to $2.37 per gallon after dipping down to $2.33 today, in a session that followed a closing value of $2.36.

Heating Oil made an initial break below its 21 day Simple Moving Average at $2.35, a possible indication of a forthcoming negative trend. NYMEX Heating Oil's upper Bollinger Band® is at $2.45, suggesting that a downward move may follow.

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

Meanwhile, mixed performances are seen in other Energy as Natural Gas is down to $2.4, losing 18.6 cents, after closing at $2.58 in the preceding trading session. Brent Crude Oil trades around $76.03, with no major change. Crude Oil moves 0.36% to trade around $71.81.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States New Home Sales (Apr) is scheduled for tomorrow at 14:00 UTC. United States Services PMI figure is projected at 52.6. It previously stood at 53.6; data will be released tomorrow at 13:45 UTC. United States Building Permits is expected tomorrow at 12:00 UTC.

Having set a significant high of $4.65 6 months ago, NY Heating Oil is trading 49.22% lower.