Natural Gas Rejected at Key Resistance, Poised for Decline Toward $3.00

Natural Gas: Sell

Natural Gas has reversed lower from the pivotal 3.400 resistance level and is likely to decline toward the 3.000 support zone.

The pullback occurred at a critical confluence zone where the 3.400 resistance level— which previously capped major advances in March and June—aligns with the 50.0% Fibonacci retracement of the January downward impulse. This rejection has effectively halted the progression of wave iii within the sharp impulse wave C that began in August.

Given the robustness of the 3.400 barrier and the prevailing daily downtrend, the commodity is expected to extend losses toward the next key support level at 3.000.

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