As \( x \rightarrow \infty \), \( x^2 + 1 \rightarrow \infty \) and thus \( \dfrac{1}{x^2 + 1} \rightarrow 0 \).
Since \( y = \dfrac{1}{x^2 + 1} \gt 0 \) for all \( x \in \mathbb{R} \), the curve lies above the \( x \)-axis and will approach \( y = 0 \) from above as \( x \) increases in value.
Similarly, as \( x \rightarrow -\infty,\ x^2 + 1 \rightarrow \infty \) and \( \dfrac{1}{x^2 + 1} \rightarrow 0 \).
So, again, the graph of the function will approach \( y = 0 \) from above as \(x\) decreases in value.