Israel attack strikes South Pars Gas field
Natural Gas forum
Israel attack strikes South Pars Gas field
Bearish sentiment dominated from Jun 6–11 due to steady price declines and falling open interest, signaling long liquidation. On Jun 12, a slight price recovery occurred alongside rising open interest and high volume, suggesting fresh participation—possibly early long entry or short covering—hinting at a short-term sentiment shift toward neutral or mildly bullish.
Currently waiting to see price action when price reaches 3.51 and how it will react with the support there.
Oils +5%
Natural gas -.8%
On shorter timeframes (4H, 1H, 15M), market structure and technical indicators signal a bearish trend, with momentum appearing exhausted and conditions oversold. At 1H, a bullish divergence is observed, with support levels at 3.53-3.52, 3.48-3.45, and 3.41-3.39.
Earlier this evening, price dipped before bouncing from the 3.53 support area, creating a liquidity void as it moved upwards to 3.55-3.57. Prior to that, as price dropped, another liquidity void was formed in the 3.61-3.59 range. In order for price to establish a clear directional move, I anticipate these liquidity voids will need to be filled first.
- Bearish Continuation: I am watching for a retest and rejection from the recent resistance area at 3.61-3.67.
- Bullish Reversal: I am looking for a retest and bounce from the recent support at 3.53.
There's always the possibility of a strong breakout/breakdown with momentum from resistance/support but I personally prefer to wait for retest and bounce from a recently established dynamic trendline or key level with some kind of divergence.
Good luck, everyone!
PS: from left to right charts 1w, 1d, 4h, 1h, 15m

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