Slightly weaker but mostly flat: NYMEX Gas is currently trading at $6.7 per MMBtu as it maintains an active range between $6.57 and $7.22.
Although Natural Gas is pointing down today (was as low as $6.57), it's climbing away from the $6.03 support line and is now 68 cents above it. Despite being in the red so far in the current trading session, NYMEX Gas peaked above its 200 day Simple Moving Average around $6.95 — typically an early indicator of a new bullish trend beginning to emerge. In contrast, NYMEX Gas's upper Bollinger Band® is at $7 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Natural Gas is set to appreciate despite today's setback.
Though US Natural Gas has been dropping, other Energy have been performing better: Crude Oil is up 0.89%.
Furthermore, United States EIA Short-Term Energy Outlook is expected tomorrow at 17:00 UTC.
Approximately 2 months ago, Natural Gas reached a significant high of $9.68 but has struggled to hold onto its gains and declined 28.26% since then.