Bearish Pennant Pattern Identified in Natural Gas Futures

A bearish pennant pattern has been identified in the Natural Gas Futures (MCX) chart for August 21st, 2025. The pattern starts with a pronounced downward thrust, followed by a symmetrical triangle where sellers digest gains and buyers offer token support.

The expectation is that this pattern serves as a continuation formation, where a breakout resumes the established trend. Validation criteria include a clear downtrend, symmetrical contraction, and volume confirmation.

If the price closes below the lower trendline and there's a volume spike to validate the breakout, it could be a high-probability move. The measured move principle suggests a target of ₹227, with a stop loss just above the upper pennant boundary.