Natural Gas Reversal Targets 3.055 Support After Evening Star

Natural Gas reversed from a resistance zone near 3.34 during Tuesday’s session. The level has capped rallies since March and aligns with the 38.2% Fibonacci retracement of the January downtrend. The upper daily Bollinger Band added further resistance.

The reversal printed a bearish Evening Star pattern on the daily candlestick chart. Technical analysts said the setup often marks a shift from buying to selling pressure. Given the clear daily downtrend, the pattern points to a resumption of selling.

The next support sits at 3.055. That is the low of the previous minor impulse wave i from earlier this month. A break below that level would open a run toward the January lows, wave analysts said.

For the reversal to hold, prices must stay below the 3.34 zone and break support at 3.20. A daily close under 3.20 would confirm the pattern and strengthen the short-side case. A break back above 3.34, especially on rising volume, would invalidate the reversal and expose the next resistance near 3.40.

The 3.055 support is the immediate target. The next catalyst is the weekly storage report due Thursday. A bearish print would add momentum to the current move.