NGCUSD

U.S. natural gas futures remain under pressure due to production levels nearing record highs in December and moderate weather conditions. This situation causes natural gas prices to move downward. Developments in European and U.S. markets may also have an impact on the markets. Particularly in the U.S., changes in private sector employment and service sector data are among the other factors that could affect natural gas pricing. Additionally, the speech by Fed Chair Powell could shape market perceptions.

Technically, natural gas prices are trading below the resistance levels of 3.07 – 3.10, and as long as these resistance levels are not surpassed, the downward pressure may continue. Currently, the price is at 2.943, showing a daily decrease of 0.07%. Potential declines may watch the 3.01 and 2.975 support levels. The RSI indicator shows a negative outlook and is trading near the oversold zone. This situation could be a warning sign that prices may fall further. On the other hand, in possible recoveries, it is difficult to talk about a new upward trend unless the resistance levels of 3.07 – 3.10 are surpassed.