Natural Gas trades at $7.21 per MMBtu, after ending yesterday at $7.24.
United States ADP Nonfarm Employment Change (Nov) is next.
Uncertainty around US Natural Gas is reflected by published market data as highly important Consumer Confidence data from United States beat analyst expectations of 100 with a reading of 100.2. United States API Weekly Crude Oil Stock came out at -7.85 million, while a consensus of analysts was expecting -2.49 million. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) released yesterday at 14:00 UTC with a figure of 10.4, while the previous figure was 13.1.
Natural Gas's upper Bollinger Band® is at $7.58, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests US Natural Gas is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Energy as Crude Oil increases 2.17% to trade around $79.9. Heating Oil added 1.31% to its value, now trading at $3.34. Brent Crude Oil rises 0.87% to trade around $83.75.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Pending Home Sales is projected to outperform its last figure with -5%. It previously stood at -10.2%; data will be released today at 15:00 UTC. United States Core PCE Price Index (MoM) (Oct) will be released tomorrow at 13:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.76 million, having previously been at -3.69 million. The figure will be published today at 15:30 UTC.
Natural Gas has shed 26.86% over the past three months.