NGCUSD

U.S. natural gas futures have come under selling pressure due to expectations of rising stocks. Although liquefied natural gas exports continue strongly, recent reports of production declines have intensified the pressure, coinciding with March's production exceeding February's record. Movements in European and U.S. markets should be closely monitored during this process.

As long as prices remain below the 3,940 – 4,000 resistance level, a downward trend may prevail. In potential pullbacks, levels of 3,860 and 3,800 can be targeted. To maintain upward potential, it is important to monitor movements and hourly closes above 4,000; in this case, the 4,040 level may come into play. The critical level of the day is: 3,940 – 4,000.