NGCUSD
U.S. natural gas futures are approaching $3, driven by weather forecasts. Stock figures to be released today may influence the direction of prices. The performance of European and U.S. markets is also among key factors to watch. Stock data to be released by the U.S. Energy Information Administration may shape market movements. The cautious progress of global markets and the negative divergence in Chinese markets should also be carefully monitored. The rise in the University of Michigan’s consumer confidence index and the CBRT's inflation report could have short-term impacts on the markets.
Technically, when examining the NGCUSD pair on a 4-hour chart, it appears that it may find support between 2.675 and 2.63 levels. In upward movements, 2.73 - 2.8 levels can be followed as resistance. The RSI indicator is at level 60, displaying a positive outlook, which may support the potential for upward movement. The pair gained 0.78% in value in the last trading day. However, a decline below 2.880 could bring further downside potential into question.
Support :
Resistance :