NGCUSD

US natural gas futures are attempting to recover due to a larger-than-expected decline in stocks, but they continue to face pressure as they have not surpassed the resistance level. Record production levels and mild weather forecasts for the second half of March are among the factors increasing this pressure. The status of European and US markets can be closely monitored throughout the day.

The prices remaining within the 4,100 – 4,170 resistance range suggest a prevailing downward outlook. In the event of a potential decline, levels of 3,940 and 3,860 may be targeted. If prices break through the 4,100 – 4,170 resistance, levels of 4,210 and 4,270 could come into play. The significant level for the day has been identified as 4,100 – 4,170.