Natural Gas Futures Surge 4.29% on Strong Breakout

Natural gas futures are on the move, up 4.29% on the day due to a combination of factors including a sharp V-reversal bounce and strong bullish volume.

The 4h chart shows a clear downtrend from $3.40 to a low near $2.65, but the recent breakout above the 2.75 shelf has sparked renewed optimism among traders.

The NG Long trade idea suggests that the price is pushing toward $2.80 resistance and potentially even higher to the 2.90 area, which represents the prior rejection high from Apr 22-23 before the sharp breakdown.

A close back below the breakout shelf at $2.748 would invalidate the breakout thesis.