NGCUSD

U.S. natural gas futures faced profit-taking after a volatile week. Increased export activities and temperature forecasts above seasonal norms continue to exert pressure on natural gas prices. Additionally, the economic data from China falling short of expectations, expectations of Fed rate cuts in the U.S., and political uncertainties in Europe are affecting risk appetite in global markets. All these factors can closely impact price movements in the natural gas market.

Technically, the NGCUSD pair is trading below the 3.070 – 3.100 resistance level on the hourly chart. As long as it remains below these levels, downward pressure may continue, and prices might head toward the 3.010 and 2.975 support levels. The RSI indicator is at the 40 level, displaying a negative outlook. The pair has experienced a decrease of 1.03% compared to the previous day. In potential recoveries, hourly closures above the 3.070 – 3.100 range could highlight the 3.125 and 3.150 levels.