Natural Gas: Sellers Target $3.38

Hello everyone!

Key Highlights:

• Current State: The market is in a sideways movement, Currently, the downward vector (5-6) is active, targeting the short-term goal (PT Short) of $3.38, which is 11% below the current price.
  
• Range Boundaries: Upper Boundary: $4.269, Lower Boundary: $3.319
  

Vectors of the Sideways market:

• The last completed vector (4-5) was upward, forming a zone of sellers (highlighted in red) near Upper Boundary. This zone acts as a significant resistance for future upward movement.
  
• Currently, the downward vector (5-6) is active, targeting the short-term goal (PT Short) of $3.38, which is 11% below the current price.
  

Supply and Demand Zones:
Zone of Sellers:
Formed during the upward movement (last impulse). Approximate levels: $4.052 and above.
Price is moving away from this zone, confirming seller dominance in the short term.

Zone of Buyers:
Found near the lower boundary of $3.319 - $3.38. This area may provide strong support if the price continues to decline.

Potential Scenarios:
Bearish Case:
If sellers maintain control, the price could drop towards $3.38, aligning with the lower boundary.
A break below this level would open the path to further declines.

Bullish Case:
A strong buyer reaction near $3.38 or $3.319 could initiate a rebound, with targets towards $4.05.

Summary:
The market is currently dominated by sellers, with the price declining toward $3.38. However, the level at $3.768 may act as a potential obstacle for the seller vector, if buyers will be defending this level. Additionally, buyer zones near the lower boundary may provide further support and opportunities for long positions if reversal patterns emerge.

Stay cautious and monitor key levels for potential setups!

Wishing you all successful trades and a profitable day!