NGCUSD

U.S. natural gas futures are showing an upward trend due to expectations that cold weather conditions as winter approaches will increase heating demand and declines in production. Normal weather conditions are expected until the beginning of November, but forecasts predict a drop in temperatures in the coming weeks. This strengthens expectations for an increase in natural gas demand. During this period, if prices remain above the 2.750 – 2.780 support levels, upward movements may continue.

On the chart, the NGCUSD pair is trading below the 2.85 resistance level. In downward movements, the 2.78 and 2.75 levels can be monitored as support. The RSI indicator is at 40, displaying a negative outlook, indicating that the pair is following a weak trend. Moving with a 0.82% decline compared to the previous day, the pair may find direction from the reactions it receives at the support zones to recover from current levels.