Heating Oil trades at $4.1 per gallon, after ending yesterday at $4.09.
This uncertain state for Heating Oil is reflected by published market data as United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
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. Asset volatility analysis shows that NY Heating Oil's upper Bollinger band is at $4.26, suggesting that a downward move may follow.
Overall, technical indicators suggest Heating Oil Futures has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen in other Energy as Brent Crude Oil moves 0.62% to trade around $92.19. Crude Oil moves 0.54% to trade around $86.34. Natural Gas is trading around $5.89 (down 11.1 cents).
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 1.55 million — worse than previous data of 9.88 million; data will be released tomorrow at 14:30 UTC. United States Building Permits (Sep) scheduled to come out tomorrow at 12:30 UTC.
Heating Oil Futures hit a significant low of $2.06 around 10 months ago, but has since recovered 97.95%.