NGCUSD

U.S. natural gas futures rose with the expected cold weather conditions across the country and the observed decline in stock levels. However, a slight pullback occurred during the Asian session due to profit-taking. The trend of European and U.S. markets can be monitored throughout the day. In this process, it is important for natural gas prices to remain above the support level of 4.140 – 4.200 for upward movements. In potential rises, the resistance levels of 4.320 and 4.360 can be monitored. In the event of possible declines, closures below the 4.140 level may create further selling pressure.

Technically, in the daily chart of the NGCUSD pair, the levels of 4.14 - 4.09 - 4.02 are monitored as support, while upward movements can be evaluated at the resistance levels of 4.32 - 4.36 - 4.46. The RSI indicator, with a 3.82% decline, is near the 40 level and presents a negative outlook. This indicates that some selling pressure may continue. However, should pricing remain above 4.140, the upward potential may gain strength.