NYMEX Natural Gas continued its four days losing streak, dropping by 2.9 cents, closing at $2.22

A quick look at yesterday: NYMEX Natural Gas dipped as low as $2.16 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($2.19) with NYMEX Natural Gas closing the day at $2.22 per MMBtu.

Meanwhile, United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 244,600, while the previous figure was 235,600. United States CFTC Gold speculative net positions came out at 189,900.

Trend-focused traders would be interested to note that despite being in the red so far in the current trading session, Natural Gas peaked above its 21 day Simple Moving Average around $2.21 — typically an early indicator of a new bullish trend beginning to emerge. Asset volatility analysis shows that NYMEX Natural Gas's upper Bollinger Band® is at $2.33 which indicates a further downward move may follow. Chart analysis indicates US Natural Gas could begin to recover as it approaches significant support, now 6 cents away from $2.16. Dipping below could be an indication that further losses are ahead.

Overall, the technical outlook suggests NYMEX Natural Gas is likely to remain muted for the immediate future, with no clear-cut direction.

Though Natural Gas has been dropping, other Energy have been performing better: Brent Crude Oil is trading around $81.76 after ending yesterday's session at $81.1 (up 0.81% today). Crude Oil is trading around $77.95 after ending yesterday's session at $77.37 (up 0.75% today).

Also yesterday, Heating Oil moves 0.17% yesterday and closed at $2.49.

Natural Gas reached a significant high of $9.68 around 7 months ago but has lost 76.77% since then.