NGCUSD

The US natural gas futures contract showed a recovery with expectations of cold weather, even though it started the week with a loss. The prices are under upward pressure due to expectations of increased heating demand. However, stock levels being 6% above seasonal averages may continue to exert pressure on prices. In global markets, the decline in bond yields and the weakening of the dollar index from the US have limited impact on natural gas pricing.

When analyzing the NGCUSD pair on the hourly timeframe chart, it is trying to hold above the 3.125 - 3.150 support level, which is of critical importance. In upward movements, the levels of 3.185 and 3.215 can be observed as resistance. The RSI indicator is at level 41, showing a negative outlook. There has been an increase of 1.228% compared to the previous day. This data indicates that the pair may continue its movements above the support level in the short term. However, hourly closings below the 3.125 level could trigger a downward trend.