NGCUSD

U.S. natural gas futures continue to gain value with expectations that global demand will remain strong and due to an upcoming cold wave. The course of European and U.S. markets during the day may affect natural gas pricing. While a recovery trend is observed in Asian markets after the holiday, the weakening of the dollar could provide indirect support to natural gas prices. Announcements regarding local government projects in China have created a positive atmosphere in the markets.

Technically, there is an upward outlook in the NGCUSD pair. As long as it remains above the 3.360 – 3.400 support zone, the potential for an increase can be sustained. In upward movements, the 3.470 and 3.535 resistance levels can be watched as important targets. In possible pullbacks, the 3.360 – 3.400 range constitutes a critical support. Closures below this level could bring the 3.330 and 3.295 levels to the forefront. The RSI indicator is at a neutral level and has experienced a 1.69% decrease compared to the previous day.