On analysis of the natural gas futures price in the 5 hour chart, I find that any deviation of price from this current bullish uptrend zone would only create a new opportunity for the bulls or bears to create bulk positions. Since the beginning of current bull run, which brought natural gas into this bullish uptrend zone, it proves to be more consolidated than ever.
If there are any sudden moves to the upside above the upper trend line and crosses the above line and reaches a little higher than that level, it would definitely create an opportunity for the bears to create fresh shorts.
On the other hand, if the prices break the lower trend line downward with a sudden jerk and reach downward up to the second uptrend line, it would be the first point in beginning fresh buying. Afterwards, if the prices approaches towards first uptrend line, bulls will take command.
The movement of natural gas futures price may remain to be volatile, but it may be more or less centered around the bullish trend line. I feel the impending heating demand for natural gas in the coming months. A little decrease in its inventory would prove to be more supportive to keep the natural gas futures price even above the third uptrend line.
Disclaimer: This analysis is purely based on the technical observations. I do not have any position in natural gas. One can create position in natural gas at his/her own risk.