Natural Gas, Technical Analysis – H4

The asset has broken out of the megaphone pattern with solid momentum after trading inside it for several sessions. Under these technical conditions, sequential updates of lower lows become the preferred path. A preliminary retest of the megaphone’s lower boundary near 2.720 also remains possible.

Key Levels: 

□ 1. 2.725 – upper edge of critical zone  

□ 2. 2.720 – megaphone support / retest level  

□ 3. 2.600 – primary downside target  

Primary Scenario:

Pullback to 2.720, followed by a decline toward 2.600.

Alternative Scenario:

A return above the 2.720–2.725 zone would force a reassessment of the current technical outlook.

Analyst Commentary:

Confirmation of bullish weakness is required in the 2.720 area.