NGCUSD

U.S. natural gas futures lost value at the start of the week with the forecast that moderate weather expected in mid-December would reduce heating demand. This situation did not change the downward outlook despite limited recovery efforts. The pressure on natural gas prices can continue to be monitored along with the trends in European and U.S. markets. Additionally, U.S. economic data and statements from Fed officials remain important determinants for the markets.

When examining the NGC/USD pair on a daily timeframe on the chart, it is observed that prices are trading below the support levels of 3.185 and 3.150. Upward movements remain limited, with resistance levels seen at 3.260, 3.295, and 3.33. The RSI indicator is at the level of 40 and exhibits a negative outlook. The pair shows a decline of 0.29% compared to the previous day. It can be said that prices need to make hourly closures above the 3.260 resistance in order to initiate an upward movement.