Mixed sentiment sees US Natural Gas ending the day broadly flat; establishes tight $2.08 to $2.1 range

Without a clear-cut direction, US Natural Gas is trading around $2.08 per MMBtu and ranging between $2.08 and $2.1.

United States Initial Jobless Claims is next today at 12:30 UTC.

NYMEX Natural Gas's state is reflected by market data as highly important Crude Oil Inventories data from United States beat analyst expectations of -583,000 with a reading of 597,000. United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 5%, while the previous figure was 6%.

Support/Resistance levels obtained from chart analysis indicate that Natural Gas is approaching key support, around 4 cents away from $2.04. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Furthermore, the market is looking at United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released today at 12:30 UTC. Projections for United States Core Retail Sales are set for a continuation of decline with -0.3% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 232,000, following on from the preceding figure of 228,000. New data is set to be published today at 12:30 UTC.

The commodity has been trending lower for about a month. Over the past 7 months, NYMEX Gas has retreated 78.38% from a noteworthy peak of $9.68.