If you look at those updated charts from today, you will see those bull flag continuation patterns that appear to come straight out of the textbooks. Even the breakout above the price channel was a textbook example of how technical analysis works. As such, and you really can’t make this stuff up, the measured target for that bull flag pattern, by no coincidence IMO as I have seen this happen more times that I can remember, the measured target for that bull flag pattern (the length of the flag pole added to the lowest point of the flag) comes in EXACTLY at the top of my upper-most bounce target zone (not my preferred target, which was 2.307 but the max. bounce target zone mentioned in the post above & also listed on the charts posted yesterday) at 2.376.

So far, yesterday’s & today’s run in /NG was purely technically (charts) driven, as someone posted an excerpt from an nat gas trading service/website in the trading room yesterday that said they could not find any fundamental (news) reason for the rally. Hence, if traders continue to trade purely off the technicals, once would then expect that this run in nat gas could likely end when that bull flag has played out to the measured target & if so, that could align with the scenario of a pop on /NG after the 10:30 am inventory report, offering an objective short entry just below that target/resistance level with a stop somewhat above, something along these lines:

https://www.screencast.com/t/LpyTBLjA