Natural Gas Technical Analysis – H1

The downtrend remains intact and has been reinforced following the break of the sloping support in the 2.720–2.730 zone. Within the development of such patterns, extremes are typically updated. Consequently, sellers’ current targets are located at 2.620–2.630 and 2.600.

Key Levels:

□ Resistance 2.720–2.730

□ Support 2.620–2.630

□ Support 2.600

Primary Scenario:

Decline toward 2.620 and 2.600.

Alternative Scenario:

Consolidation within the 2.690–2.740 range.

Analyst Commentary:

Positive developments on the Iran–US track will facilitate the technical realization of the downside move.