As I explained about the technical formations, indicating a breakout move; while writing my last analysis of the movements of natural gas futures on Apr. 19, 2021. I find that the Technical Formations indicate a lot while the weather looks indecisive. Despite the announcement of warm weather for this week, a blanket of heavy wet snow cloaked much of Ohio, a state in the US Midwest, resulting in scattered power outages on Wednesday.
Natural gas futures have already formed a bullish crossover in the daily chart. This 'Bullish Crossover' has got confirmation by the post-inventory moves on Thursday. I find that the natural gas bulls have formed a strong base at $2.656 before moving upward. This uptrend could continue during the upcoming week if the natural gas futures start the first trading session with a gap-up opening.
Disclaimer: The author of this analysis does not have any position in natural gas futures. Readers are advised to take any position at their own risk; as natural gas is one of the most liquid commodities of the world.