NGCUSD

U.S. natural gas futures are continuing to approach $3, bolstered by positive weather forecasts before the inventory figures to be announced today. The general trend in European and U.S. markets, along with the inventory figures to be released by the U.S. Energy Information Administration, stand among the significant factors influencing pricing. After Alphabet's earnings forecasts exceeded expectations, the positive sentiment reflected in the markets is supporting U.S. stocks, yet Asian markets continue their mixed trend. Ongoing uncertainties in the Chinese economy and developments related to the U.S. elections may also have an impact on the markets.

From a technical standpoint, the NGCUSD pair is trading close to the 2.91 resistance level, and if this level is surpassed, the levels of 2.94 and 2.97 could be monitored. In downward movements, the levels of 2.85, 2.82, and 2.78 are important supports. The RSI indicator is at 53, indicating a neutral market outlook. A 0.26% increase is observed compared to the previous day. When analyzed on a 4-hour chart, it is important for the pair to remain above the 2.91 resistance to sustain its upward movement. However, potential retracements leading to closures below the 2.85 support level may increase selling pressure.