Natural Gas is close. 2.70 has been the straddle line for a few years now. Above we are bullish, below we are bearish. If we do breakout, remember 2.90/3.00 had some strong resistances. We could be back to the 2.50/2.70 levels quickly with a breakout or not. North America saw one of the warmest February's on record. This will only add to the natural gas supply build going into summer. However, there is a strong movement in commodities. Inflation fears are perking up, and this alone could help natural gas. I believe the reaction to inflation will have consequences. Central Bankers in Japan and Europe could act to swiftly to combat inflation and larger scale issues will surface that are very deflationary.
Chart Analysis Lazy Bear popular squeeze momentum indicator suggest squeezes (circled) on all sorts of time frames. When you have more intervals lining up with a squeeze and momentum shifting on those intervals, a big price movement is likely to occur. Not all the intervals currently agree, so it is somewhat of a mixed signal.
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Long Tweezers on both sides usually means some sideways trading. 2.70 is the middle ground and also the key support/resistance area.