NGCUSD

U.S. natural gas futures are increasing in value, supported by forecasts of expected cold weather in the central and eastern regions. Particularly, the anticipation of the coldest January in 12 years for the country is affecting the markets. While the overall trends in European and U.S. stock exchanges can also be decisive for prices, weather conditions and inventory data play an important role in the natural gas market.

From a technical perspective, the NGCUSD pair has the potential to maintain its upward trend by staying above the support levels of 3.67 and 3.62. In upward movements, the resistance levels of 3.74, 3.80, and 3.86 should be monitored. The pair, experiencing a 1.86% drop during the day, has an RSI indicator at the 38 level, exhibiting a negative outlook. If the 3.67 support is breached, the possibility of a pullback to the 3.57 level could arise.