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Natural Gas Futures ( QG1! ), H4 Potential for Bearish Momentum

Short
Natural Gas Futures (MCX:NATURALGAS1!)  
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MCX:NATURALGAS1!   Natural Gas Futures
Trend Analysis Chart Patterns Technical Indicators natualgas
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trendanalysis chartpattern indicator natualgas

Type: Bearish Momentum
Resistance: 573.8
Pivot: 520.5
Support: 424.6

Preferred Case: The H4 price is in a downward trend. The price may drop form the pivot at 520.5, which is in line with the 78.6% fibonacci retracement to the 1st support at 424.6, where the swing and target price of shoulder head pattern is.

Alternative scenario: If the bullish momentum continues, price will move to 573.8, where the 23.6% Fibonacci line is located.

Fundamentals: There are no major news.
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