NGCUSD

US natural gas futures are on a recovery trend due to increased heating demand based on cold weather forecasts and a rise in exports to liquefied natural gas facilities. The performance of European and US stock exchanges, along with the inventory figures to be released by the US Energy Information Administration, can be closely monitored throughout the day. Increases in Asian indexes and US inflation expectations may also impact the overall market sentiment. The interest rate decisions of the European Central Bank and the Swiss National Bank could have an indirect effect on natural gas prices.

Technically, the NGCUSD pair finds strong support at the 3.33 and 3.295 levels on the daily chart. Resistance levels at 3.4 and 3.43 should be monitored for upward movements. The RSI indicator of the pair is showing a positive outlook at the 60 level. There is a 1.98% increase compared to the previous day, which may indicate a short-term upward momentum, but maintaining the 3.33 - 3.295 support zone is crucial. In case of declines, hourly closings below this region could lead to further pullbacks towards the 3.26 level.