Natural Gas, Technical Analysis – H4

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.