NGCUSD

U.S. natural gas futures continue to rise as extreme cold weather conditions in the country increase heating demand and negatively impact some production factors. Throughout the day, the situation in European and U.S. stock markets, as well as inventory data to be announced by the U.S. Energy Information Administration, can be closely monitored.

Prices may maintain an upward trend as long as they stay above the support levels of 4,260 – 4,320. In this scenario, levels of 4,460 and 4,530 can be targeted after the resistance of 4,400. In case of possible declines, the status of the 4,260 – 4,320 support should be observed; a break of this support could bring levels of 4,200 and 4,140 into focus. The significant level of the day: 4,260 – 4,320.