Natural Gas (NG1) Down $0.01 Over Past 4 Hours, Underperforms All energy commodity; Price Base in Formation Over Past 90 Days

Natural Gas 4 Hour Price Update

Updated April 07, 2021 01:54 AM GMT (09:54 PM EST)

Natural Gas entered the current 4 hour candle at $2.598, down 0.23% ($0.01) from the previous 4 hours. Relative to other instruments in the energy commodity asset class, Natural Gas ranked 5th since the previous 4 hours in terms of percentage price change.

Natural Gas Daily Price Recap

Natural Gas closed the previous day down 2.19% ($0.06); this denotes the 2nd straight day a decline has happened. On a relative basis, Natural Gas was the worst performer out of all 6 of the assets in the energy commodity asset class today. Below is a daily price chart of Natural Gas.

NG1

Natural Gas Technical Analysis

The first thing we should note is that Natural Gas is now close to its 200 day averages, located at 2.52 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Natural Gas’s price has gone down 19 of the previous 30 trading days.