On an 11 day uptrend, Today's session might suggest a slow down — WTI crude trades at $83 per barrel, after ending yesterday at $83.26.

United States Initial Jobless Claims is next.

This uncertain state for US crude oil is reflected by published market data as United States Crude Oil Inventories beat analyst expectations of -583,000 and the previous reading of -3.74 million with new data 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%.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that West Texas crude's upper Bollinger Band® is at $84.35, suggesting that a downward move may follow.

Notwithstanding WTI crude's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as 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.

US crude oil is now trading 31.8% below the significant high of $122.09 it set around 10 months ago.