Natural Gas, Technical Analysis – H4
The price is approaching the upper boundary of the “megaphone” (horn) pattern we highlighted yesterday.
The price is approaching the upper boundary of the “megaphone” (horn) pattern we highlighted yesterday. If the pattern remains valid — which cannot be taken for granted — we are likely to see a renewed decline from the 2,960–2,970 zone. Alternatively, bulls will attempt to challenge the key psychological level at 3,000.
Key Levels:
□ 2,960–2,970 (upper boundary / resistance)
□ 3,000 (psychological resistance)
□ 2,850 (next support target)
Primary Scenario:
Decline from the 2,960–2,970 zone toward 2,850.
Alternative Scenario:
Breakout toward 3,000 with an attempt to consolidate above it.
Analyst Commentary:
Both scenarios appear equally probable amid ongoing geopolitical tensions in the Middle East.
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.