NGCUSD

US natural gas futures are gradually trending lower under the pressure of mild weather forecasts, yet they are supported by robust export demand. The performance of European and US stocks is also among the elements that need to be monitored carefully. Particularly, economic stimulus news from China creates a positive atmosphere in Asian markets, while the cautious trend in US futures and bond yields draws attention. This situation may cause fluctuations in the natural gas market.

Technically, the 3.150-3.185 support region plays a significant role in the NGCUSD pair. As prices test this area, hourly closures above 3.185 could pave the way for upward movements. Resistance levels at 3.215 and 3.26 can be monitored above. On downward movements, breaking the 3.150 support might lead to a pullback towards the 3.125 and 3.1 levels. The RSI indicator is below the 30 level, displaying a negative outlook in the oversold zone. The pair has decreased by approximately 0.52% compared to the previous day.