Natural Gas Technical Analysis – H4

The asset has clearly broken its negative trend, which could no longer be sustained amid the prevailing macroeconomic and geopolitical backdrop. Price has returned inside the megaphone pattern and is likely targeting its upper boundary near 3.100. At the same time, an unfilled gap remains below in the 2.700 zone, to which the market may return should resistance at 2.830 hold.

Key Levels:

□ 2.700 — Demand zone / Support (unfilled gap)

□ 2.830 — Resistance

□ 3.100 — Resistance (megaphone upper boundary)

Primary Scenario:

Advance toward 2.830, followed by a pullback to 2.700.

Alternative Scenario:

Break above 2.830 with subsequent upside toward 2.900 and 2.950.

Analyst Commentary:

The market has shifted to a bullish bias, yet the zone of optimal long entries lies below the current price — at the 2.700 level.