Seasonal European NatGas is week, but typically in August the rebound starts regarding due to the hedging of winter demand. The chart already shows a potential pattern, i.e. a potential ABC embedded in a channel. If this channel breaks, we might see an increase to 45 €/MWh.
Comment:
Also not in time in works in some sense. It was indeed the local bottom and the upper target was a short stop in the increase