NGCUSD

US natural gas futures continue their downward movement despite a limited decline in inventories, amid expectations of mild weather conditions. The direction of the European and US stock markets is among the elements closely monitored by the markets. The weakening of the dollar index and the expectations of a Federal Reserve rate cut are also significant factors influencing market dynamics. During this period, natural gas prices are moving influenced by the general atmosphere.

When the chart is examined on an hourly timeframe, it is observed that the NGCUSD pair is trading below the 3.215 and 3.260 resistance levels. In the continuation of the downward movement, the 3.15 and 3.125 levels can be monitored as support. The RSI indicator is at the 48 level, exhibiting a neutral tendency. Although the pair recorded a 0.85% rise compared to the previous day, the overall outlook remains in negative territory. If prices exceed the 3.295 resistance due to adverse weather conditions, the 3.330 and 3.370 levels may come into play.