Bullish Outlook for Natural Gas Prices Amidst Tight Trading Range and Inventory Expectations

Natural gas prices are on the rise, with bulls eyeing a target zone of 2.77 to 2.83, supported by a variety of methods including Fibonacci retracement and measured move. If natural gas can close the week in the top portion of this week's range, it will be the second highest weekly close since March 3, indicating strength and potential for higher prices. A monthly breakout on a move above May's high of 2.69 could provide a long-term bullish signal, but a retracement prior to a continuation of the advance is possible.