NGCUSD

U.S. natural gas futures found support as higher-than-expected withdrawals from inventories combined with cold weather forecasts positively influenced the demand outlook. The 6 to 14-day weather forecasts indicate that the cold weather effects may decrease across the country.

As long as prices remain above the 3.290 – 3.330 support levels, an upward trend may be observed. In the event of possible increases, the 3.415 and 3.470 levels can be targeted, while in case of a decline, the 3.290 – 3.330 support level should be closely monitored. A break of this support could bring the 3.250 and 3.220 levels into focus. The critical level for the day is in the 3.290 – 3.330 range.