NGCUSD

U.S. natural gas futures started the week with gains of over 10% but experienced a slight correction during the Asian session. Changing weather forecasts for the end of October, indicating temperatures near seasonal norms, raised expectations for increased heating demand, supporting the price increases. Additionally, the decline in average production for October and the strong trend in liquefied natural gas exports further strengthened the current situation.

As long as prices remain above the support levels of 3,300 – 3,350, the upward trend may continue to be prominent. If there are potential increases, levels of 3,420 and 3,480 could be targeted, while during declines, the 3,300 – 3,350 support is critical. Breaking through this support level could bring 3,260 and 3,230 levels into focus.