NGCUSD

U.S. natural gas futures exhibit an upward trend, supported by weather forecasts and flows to liquefied natural gas facilities. The decline in inventories exceeding expectations also contributes to this rise. A slight contraction in natural gas production has been observed since the beginning of December. Developments in European and U.S. stock markets during the day may affect natural gas pricing. Losses in U.S. indexes and interest rate expectations are among the factors that could influence natural gas pricing dynamics.

The chart shows that the natural gas price is close to the support levels of 3.43 and 3.4. In a bullish scenario, resistance levels of 3.5 and 3.535 can be monitored. In the event of a possible decline, a pullback to the level of 3.37 may occur. The RSI indicator is at 40 and shows a negative trend, indicating that some selling pressure might persist in the market. The pair, which exhibited a 0.06% decrease compared to the previous day, might test whether it can hold onto the support levels in the short term.