NGCUSD

Despite expectations of increasing natural gas exports in the US, the NGCUSD pair remains in a consolidation trend due to profit-taking pressures. The trends in European and US stock markets could be decisive for price movements. There are expectations regarding economic support measures in China, but a negative sentiment prevails in other parts of Asia ahead of the US employment data. Weak employment figures and high hourly earnings in the US create uncertainties about the Fed's policies. This situation could exert pressure on natural gas demand and consequently on the NGCUSD pair.

Technically, the NGCUSD pair exhibits a confined outlook between the resistance levels of 3.1 and 3.125. If it fails to maintain above these resistance levels, it is likely that downward movements will continue in the pair, targeting support levels of 3.04 and 3.01. The pair is trading at a level of 2.974, showing a decline of approximately 0.30% during the day. The RSI indicator is at 35, indicating a negative trend, suggesting that selling pressure may continue.