Energy traders focused on NYMEX Gas as it powers 4.73% higher

US Natural Gas trades at $2.24 per MMBtu after gaining 10.1 cents (4.73%).

Natural Gas broke through the $2.17 resistance, climbing 7 cents above it. US Natural Gas made an initial breakout above its 21 day Simple Moving Average at $2.22, a potential indicator of a newly emerging bullish phase.

Overall, looking at the technical analysis landscape, it seems NYMEX Gas might continue pointing upwards in the short term.

This rally in NYMEX Natural Gas's price coincides with other Energy as Heating Oil is up 2.13%. Crude Oil ascends 2.07% to trade around $72.82. Brent Crude Oil is up 1.75%.

Furthermore, the market is looking at United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.

Natural Gas reached a significant high of $9.68 around 8 months ago but has lost 77.92% since then.