NYMEX Natural Gas is down to $7.12 per MMBtu, after ending yesterday at $7.31. Overall, a 2.63% loss or 19.2 cents today.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Natural Gas's upper Bollinger Band® is at $7.23 which indicates a further downward move may follow.
With market volatility ebbing, the current technical outlook indicates Natural Gas will remain range-bound for the immediate future.
Though US Natural Gas has been dropping, other Energy have been performing better: Heating Oil improves 1.07% to trade around $3.4.
Around the markets, mixed performances are seen by Energy as Crude Oil trades with no major change, around $78.31. Brent Crude Oil moves 0.13% to trade around $85.52.
US Natural Gas is now trading 25.22% below its 3-month high of $9.68.