Israel attack strikes South Pars Gas field
Natural Gas - Cash 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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