NYMEX Natural Gas is down to $2.2 per MMBtu, after ending Friday at $2.23. Overall, a 1.43% loss or 3.2 cents today.
Natural Gas's upper Bollinger Band® is at $2.34 which indicates a further downward move may follow.
In the short term, US Natural Gas is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other Energy as Crude Oil is down to $76.9, losing 97 cents, after closing at $77.87 in the preceding trading session. Brent Crude Oil is down 75 cents from the beginning of the session and now trades around $80.71.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Consumer Confidence data is projected to fall short of market expectations with newly published data of 104, following on from the preceding figure of 104.2. New data is set to be published tomorrow at 14:00 UTC.
Furthermore, United States Building Permits will be released tomorrow at 13:30 UTC. United States New Home Sales (Mar) is expected tomorrow at 14:00 UTC.
Having set a significant high of $9.68 8 months ago, US Natural Gas is trading 76.93% lower.