NGCUSD

U.S. natural gas futures are showing limited buying activity due to lower-than-expected increases in inventories and profit realizations resulting from rapid sales. However, this situation does not sufficiently support expectations for price increases. The performance of European and U.S. stock markets should be closely monitored throughout the day.

If pricing occurs in the range of 3.150 – 3.190, clarity may be gained in the search for direction. A desire for a decline could be highlighted by movements below 3.150 and hourly closes; in this case, levels of 3.125 and 3.100 could be targeted. In potential recoveries, the resistance at 3.190 should be considered; surpassing this resistance may lead to 3.220 and 3.250 levels. Key levels of the day: 3.150 – 3.190.