NY Heating Oil down 2.46 cents, closing at $2.26, for its 4th straight negative day

Heating Oil is down to $2.26 per gallon, after ending yesterday at $2.28. Overall, a 1.08% loss or 2.46 cents today.

United States ADP Nonfarm Employment Change (May) is next today at 12:15 UTC.

Meanwhile, United States JOLTs Job Openings (Apr) came out at 10.10 million, while a consensus of analysts was expecting 9.78 million. United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of 5.20 million, while the previous figure was -6.80 million. United States OPEC Crude Oil Production Algeria (Barrel) came out at 960,000, while a consensus of analysts was expecting 960,000.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $2.26, a low enough level to, generally, suggest that Heating Oil is trading below its fair value.

With market volatility ebbing, the current technical outlook indicates Heating Oil Futures will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other Energy as after ending yesterday's session at $73.54, Brent Crude Oil lost 96 cents and is trading around $72.58.

In addition, Crude Oil trades around $68.49, with no major change.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls expected to decline to 180,000 while its preceding data was 253,000, data will be available tomorrow at 12:30 UTC.

Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million, having previously been at -12.46 million. The figure will be published today at 15:00 UTC.

Furthermore, United States ADP Nonfarm Employment Change (May) scheduled to come out today at 12:15 UTC.

Having set a significant high of $4.65 7 months ago, NYMEX Heating Oil is trading 50.97% lower.