After closing the previous trading day at $2.68, Heating Oil is up to $2.72 per gallon, which makes for a move of 1.31%/3.53 cents today.
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. According to asset volatility analysis, Heating Oil's lower Bollinger Band® is at $2.67, indicating that the market is oversold and fertile for new buyers.
Overall, the technical outlook suggests Heating Oil Futures is likely to remain muted for the immediate future, with no clear-cut direction.
Other Energy are showing mixed performance as Natural Gas trades close to $2.17, with no major change. Brent Crude Oil trades with no major change, around $76.09. Crude Oil trades around $70.12, with no major change.