Natural gas shows bullish momentum as it breaks key levels, with eyes on further gains if it can advance above 3.02.

Following a dip earlier in Wednesday's trading session natural gas subsequently rallied off support of 2.83, the low for the day. For the second day in a row, it broke out above the top trendline of a large symmetrical triangle pattern. A breakout was attempted yesterday with a new high of 3.01 but it was quickly met with resistance that led to a down day and a close below the trendline.

In other words, it closed weak and showed signs of a failed breakout. A second attempt today shows that buyers remain in control. At the time of this writing natural gas continues to trade near the highs of the day and above the trendline. A close today above the line will show strength. Moreover, a daily close above 3.00 will be the highest closing price since June 13.