NGAS

The view that warm weather in the US will increase cooling demand was effective in starting the week with gains in natural gas futures. However, it will be important whether increased production will overshadow this. Production and stock figures will also be monitored during the week, along with weather forecasts. As long as prices remain above the 2.49-2.42 support supported by the 20- and 50-period exponential moving averages, an upward outlook may be at the forefront. In possible increases, 2.59 and 2.65 levels can be targeted. In possible decreases, the attitude of the 2.49-2.42 support can be monitored. A break of this support and hourly closings in the region may bring the 2.35 and 2.29 levels to our agenda. Support: 2.49-2.42 Resistance: 2.59-2.65