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NATURALGAS(NATURALGAS) , H4 Bearish Reversal

34273 naturalgasnaturalgas h4 bearish reversal

Type: Bearish ReversalKey Levels:Resistance: 432.7Pivot: 410.9Support: 374Preferred Case: Price is near pivot level of 410.9 which is also our previous high, Price can potentially reverse to the support level of 374 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator as it is at resistance level. Alternative Scenario:Price continue to rally to resistance level of 432.7 which is also the graphical overlap resistance.Fundamentals:With the risk of sanctions by western countries on energy produce by Russia. Prices of natural gas may continue its climb. As fundamentals and technicals do not align , there is a risk on factor when looking at NATURALGAS

Source: Tickmill

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