Mixed sentiment sees Heating Oil Futures ending the day broadly flat; establishes tight $2.56 to $2.57 range

Heating Oil trades at $2.56 per gallon, after ending yesterday at $2.56.

United States Initial Jobless Claims is next.

NY Heating Oil's state is reflected by market data as United States API Weekly Crude Oil Stock came out at -1.25 million, while a consensus of analysts was expecting -433,000. United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 4.01, while the previous figure was 3.954.

Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that NYMEX Heating Oil's upper Bollinger Band® is at $2.6, suggesting that a downward move may follow.

Overall, the technical outlook suggests NYMEX Heating Oil is likely to remain muted for the immediate future, with no clear-cut direction.

Meanwhile, mixed performances are seen in other Energy as Natural Gas trades around $2.61, with no major change.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories projected to come out at 1.87 million — worse than previous data of 7.92 million; data will be released today at 15:00 UTC. United States Services PMI figure is projected at 54. It previously stood at 54.9; data will be released tomorrow at 13:45 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 260,000. It previously stood at 262,000; data will be released today at 12:30 UTC.

Trading mostly sideways for a month. Having soared to a high of $4.65 approximately 7 months ago, NY Heating Oil is now trading 44.88% lower.