US Natural Gas price jumped yesterday. I trade the United States Natural Gas Fund (UNG), which is an ETF that tracks natty gas price. UNG Daily Chart 4/20(click to enlarge) Bloomberg News cited 2 factors:1) Bloomberg: LNG exports trim 35B cf from U.S. natural gas glut (seeking alpha)2) U.S. Gas Jumps by Most Since December on Warmer Weather Outlook (bloomberg) These 2 reasons cover both supply and demand. We can see the reaction yesterday as price jumped above 7.00. This price action also breaks above a month-long consolidation range roughly between 6.28 and 7.00. It looks like UNG survived the first test of its price bottom attempt. I has already broken above a falling trendline. Now it is showing a bullish victory after a consolidation. If UNG is indeed bullish now, price should hold above 6.50, and preferable above 6.65. I would still like to see the RSI in the daily chart push above 60 and price push above the 100-day simple moving average. Those would be additional evidence of a bullish reversal at work, which has the 9.00-9.50 area in sight by the end of the summer.