NGCUSD

U.S. natural gas futures recorded an increase due to Hurricane Rafael's expectation to reduce daily production, but this rise remained limited by profit-taking. Forecasts that temperatures in the U.S. will remain above seasonal norms are sparking concerns that natural gas demand may decrease and inventories might increase. In this context, it is noteworthy that prices retain their weekly gains. Developments in the U.S. economy and the impacts of Trump’s policies are also closely monitored in the markets.

The NGCUSD pair is attempting to remain above the 2.88 level. In upward movements, the 2.91 resistance level stands out as a significant threshold. If it stays above this level, the 2.95 and 2.975 resistance levels could be targeted, respectively. On the other hand, in the event of possible pullbacks, the 2.88 support level is being monitored. Hourly closures below the 2.88 level could bring the 2.85 and 2.82 levels into focus. The RSI indicator is at the 45 level, indicating a generally neutral market outlook. The pair has decreased by 0.15% compared to the previous day.