NGCUSD

U.S. natural gas futures are attempting to move towards $3, bolstered by supportive weather forecasts. Markets are focused on the stock figures to be released by the U.S. Energy Information Administration. Additionally, the trajectory of European and U.S. stock markets may also influence natural gas pricing. As long as prices remain above the 2.880 – 2.910 support levels during the day, the upward trend may continue. However, falling below these levels could indicate a new downward trend.

In the daily timeframe chart, the NGCUSD pair finds support at 2.75, 2.72, and 2.675, while upward movements are resisted at 2.82, 2.85, and 2.88 levels. The RSI indicator is slightly positive, positioned above the 50 level. The pair's 1.36% increase compared to the previous day shows that buyers maintain control in the short term. However, surpassing the 2.88 resistance level could enhance the upward potential.