US Natural Gas slides down from $2.54 to $2.47 per MMBtu today, losing 6.9 cents (2.71%).
United States's Non Farm Payrolls new data released of 311,000 below its previous figure.
Following a previous reading of 3.4, Unemployment Rate in United States released today at 13:30 UTC fell short of the 3.4 figure expected by analysts with an actual reading of 3.6. Initial Jobless Claims in United States fell short of market expectations (195,000) with a reading of 211,000, continuing the decline from the previous figure of 190,000.
On the flip side, positive data for NYMEX Gas released earlier when United States Non Farm Payrolls released today at 13:30 UTC is better than expected at 311,000 but down from preceding data of 504,000 according to new data.
Natural Gas could begin to recover as it approaches significant support, now 5 cents away from $2.43. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Natural Gas peaked above its 21 day Simple Moving Average around $2.51 — typically an early indicator of a new bullish trend beginning to emerge.
Technical analysis shows that Natural Gas (currently on a downtrend) might reverse course and start going up in the short term.
Though NYMEX Gas has been dropping, other Energy have been performing better: Heating Oil is up 4%. Having closed the previous session at $81.59, Brent Crude Oil is up 1.61% today to currently trade at around $82.9. Having closed the previous session at $75.72, Crude Oil is up 1.48% today to currently trade at around $76.84.
US Natural Gas is now trading 59.59% below its 3-month high of $9.68.