
Natural gas futures have staged a strong rally, with price action breaking above key short-term and intermediate-term resistance levels and showing fast momentum on large bars. Both the weekly and monthly session fib grids indicate an upward trend, with price holding above the NTZ/F0% levels, confirming bullish sentiment in the short and intermediate term. Swing pivots show an uptrend, with the most recent pivot high at 4.196 and the next key support at 3.752, suggesting the market is in a trend continuation phase after a significant bounce from recent lows. Short-term and intermediate-term moving averages have turned up, supporting the bullish case, though the longer-term 100 and 200-day benchmarks remain in a downtrend, highlighting that the broader trend is still bearish. Volatility is elevated (ATR 285), and volume is robust, indicating strong participation. The overall structure suggests a potential for further upside in the near term, but the long-term trend remains a headwind, with significant resistance overhead. The market is transitioning from a period of consolidation and choppy action into a more directional move, with the potential for further tests of higher resistance levels if momentum persists.