Natural Gas, Technical Analysis – H4
A strong triple top reversal pattern has formed, signaling clear buyer exhaustion.
A strong triple top reversal pattern has formed, signaling clear buyer exhaustion. Once fresh positive headlines emerge from the Strait of Hormuz, the commodity is likely to break below the key trendline, with the first downside targets located in the 2.950–3.000 area.
Key Levels:
□ 2.950 – 3.000 — primary downside target zone
□ Trendline support — immediate breakout level
□ Recent highs (triple top) — key resistance
Primary Scenario:
Development of a downward wave toward the 2.950–3.000 zone.
Alternative Scenario:
Consolidation around current levels.
Analyst Commentary:
This is a high-probability setup for sellers, although it may require patience while waiting for a fundamental catalyst from the Strait of Hormuz to trigger the breakdown.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.