#XNGUSD #NaturalGas update || 15 Mar

Mar 15

🕓TimeFrame: 1 hour

Technically: Natural gas found support at 1.740 and rose post-inventory data. Currently moving above the 100EMA, indicating a positive outlook in the 1-hour timeframe. If manage to sustain above 1.889 we will see further upside levels

As per the news:
🔸Nat-gas prices surged after a larger-than-expected inventory drawdown of -9 bcf.
🔸Cooler weather forecasts and short-covering also contributed to the price rally.
🔸However, abundant supplies and reduced LNG exports due to a terminal closure in Texas are still pressuring prices