Natural Gas Technical Analysis – H1
Natural Gas continues its downtrend after breaking sloping support at 2.720–2.730 on H1. Sellers are now targeting the 2.620–2.630 and 2.600 zones, with geopolitical positivity potentially accelerating the move.
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.
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.