July Nat Gas continues to rally breaking up over 2.65 and holding above for the last 3 days. Next resistance pt is the major downtrendline which could stop it in its tracks. "IF" price can clear the downtrendline and rally to price resistance at 3.10 this would be a good sign of a more significant turn around. That would then likely see price pullback to the upper side of the downtrendline and use it as support on a pullback. Technicals are much improved with the RSI 21 clearing and holding above the 50 line for the 1st time since June/11 and the CCI 20 clearing and holding above the 0 line. The 20ema is also rising and about to cross above the 50ema as well for the 1st time in a year. Also note the July contract gaining on the Jan/03 contract showing the previous bearish contango is unwinding which is also bullish. What is most important is how far NG will pullback once it reaches a resistance point it can't clear. So far that hasn't occurred as yet.