WTI crude oil trades at $89.67 per barrel, after ending yesterday at $89.18.
United States ADP Nonfarm Employment Change (Oct) is next today at 12:15 UTC.
Uncertainty around WTI crude oil is reflected by published market data as United States JOLTs Job Openings (Sep) released yesterday at 14:00 UTC with a figure of 10.72 million, while the previous figure was 10.28 million. United States ISM Manufacturing PMI (Oct) came out at 50.2, while a consensus of analysts was expecting 50. United States API Weekly Crude Oil Stock came out at -6.53 million, while a consensus of analysts was expecting 267,000.
Crude Oil's upper Bollinger Band® is at $92.08, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests WTI crude is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Energy as Natural Gas is up 3% to $5.89. Having closed the previous session at $94.8, Brent Crude Oil is up 0.77% today to currently trade at around $95.53.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 367,000, following on from the preceding figure of 2.59 million. New data is set to be published today at 14:30 UTC. United States Interest Rate is expected today at 18:00 UTC. United States ADP Nonfarm Employment Change (Oct) is expected today at 12:15 UTC.
WTI crude is now trading 28.52% below the significant high of $124.77 it set around 7 months ago.