NGCUSD

U.S. natural gas futures tested the week's highest levels with expectations of a cold weather front in the country. Although it encountered some profit-taking during the Asian session, the upward outlook remains intact. The Energy Information Administration's inventory data, which will be released today in the U.S., may affect natural gas prices. Particularly, the slowdown in inflation data in the U.S. and the positive trend in Asian markets are supporting the overall market sentiment positively.

From a technical perspective, the NGCUSD pair continues to trade above the 4.02 - 3.96 support levels. In upward movements, resistance levels of 4.14 and 4.20 can be monitored. On the chart, the RSI indicator is at the level of 40, displaying a negative outlook. The pair recorded a 2.35% decline compared to the previous day. In potential pullbacks, hourly closings below the 3.96 level may bring the 3.86 level into focus.