NGCUSD

U.S. natural gas futures have seen increased stock concerns due to high demand supported by strong liquefied natural gas exports in January and February, as well as production disruptions. This situation has led prices to reach their highest levels since December 2022, influenced by geopolitical risks. However, after testing these levels, gradual profit-taking occurred. Following the mild weather expected until March 15, colder weather forecasts are anticipated for the remainder of March.

As long as prices remain below the resistance levels of 4.465 – 4.530, a downward outlook may persist. In potential declines, targets could be 4.400 and 4.330. If recoveries occur, the situation at the 4.465 – 4.530 resistance levels should be closely monitored. If this resistance is broken, levels of 4.600 to 4.670 may come into play. Key levels for the day: 4.465 – 4.530.