NGCUSD

U.S. natural gas futures are testing the highest levels in two years due to an expected cold snap in the eastern part of the country. The cold weather forecasted for the first days of January may lead to significant withdrawals in stockpiles. Therefore, updates on weather forecasts and the natural gas inventory data to be released during the week are being closely monitored. On the last trading day of the year, a decline in trading volumes can be expected due to markets being closed tomorrow for a holiday.

On the chart, we see that natural gas prices are trading on a 4-hour timeframe at the 4.150 level. Support levels are observed at 3.86, 3.8, and 3.74, while resistance levels are established at 4.02, 4.13, and 4.21. The RSI indicator is displaying a neutral outlook below the 70 level. A 0.918% decrease is observed compared to the previous day. During upward price movements, the 4.02 and 4.13 resistance levels may be critical, while potential pullbacks should monitor the 3.86 and 3.8 support levels.