NYMEX Gas falls to $2.43 per MMBtu, following mixed behavior today as it ranges between $2.38 and $2.61.
Natural Gas made an initial break below its 10 day Simple Moving Average at $2.47, a possible indication of a forthcoming negative trend. Despite this, US Natural Gas could begin to recover as it approaches significant support, now 6 cents away from $2.49. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems US Natural Gas is likely to start pointing downward in the short term.
Though NYMEX Natural Gas has been dropping, other Energy have been performing better: Heating Oil is up 0.79%.
Furthermore, United States Consumer Price Index figure is projected at 0.5%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index figure is projected at 6.2%. It previously stood at 6.5%; data will be released tomorrow at 13:30 UTC. United States Core Consumer Prices is expected tomorrow at 13:30 UTC.
The commodity has been trending lower for about 2 months. 5 months ago NYMEX Gas reached a significant high of $9.68 but has consequently lost 74.03% since then.