NGCUSD

U.S. natural gas futures are showing signs of recovery due to strong performance in liquefied natural gas exports and weak production news. In the Asian session, however, the markets are mostly following a sideways trend. The movements of European and U.S. stock markets may be closely monitored throughout the day.

Pricing may occur in the range of 4.040 – 4.120, and hourly closes at these levels could determine the market's search for direction. Movements below 4.040 may increase the desire for decline, targeting the levels of 4.000 and 3.940. In potential recoveries, the resistance at 4.120 will play a critical role; breaking through this level could bring 4.160 and 4.210 into focus. Key levels for the day: 4.040 – 4.120.