US Natural Gas falls 19.1 cents following previous session close at $2.31

US Natural Gas is down to $2.12 per MMBtu, after ending yesterday at $2.31. Overall, a 8.28% loss or 19.1 cents today.

GDP data from United States will be released today at 12:30 UTC with analysts expecting a decline to two. Potentially significant price fluctuations in Natural Gas are expected to follow.

Highly important Crude Oil Inventories data from United States beat analyst expectations of -1.49 million with a reading of -5 million.

On the flip side, data for United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at 0.3%, beating projections of -0.2% and showing improvement over the preceding figure of -0.3%.

Meanwhile, United States 5-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.5, while the previous figure was 3.665.

Natural Gas's lower Bollinger Band® is at $2, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis shows that NYMEX Natural Gas (currently on a downtrend) might reverse course and start going up in the short term.

At the same time, Heating Oil trades close to $2.39, with no major change. Brent Crude Oil moves 0.28% to trade around $77.94. Crude Oil trades with no major change, around $74.45.

Looking ahead, ongoing depreciation may be prolonged as United States Pending Home Sales projected to come out at 0.5% — worse than previous data of 0.8%; data will be released today at 14:00 UTC. Today at 12:30 UTC data for United States GDP will be released, with an expected decline to two from the preceding figure of 2.6. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 248,000 from the preceding figure of 245,000.

Having soared to a high of $9.68 approximately 8 months ago, US Natural Gas is now trading 76.17% lower.