On August 15, the U.S. Energy Information Administration (EIA) released its weekly natural gas inventory report. The report showed that natural gas inventories decreased by 600 million cubic feet (Bcf) during the week, while market analysts were generally expecting an increase of 4.3 Bcf.

Natural gas inventories are now 20.9 Bcf above the same time last year and are 37.5 Bcf above the average for the same period over the past five years. Higher inventory levels have been one of the main factors weighing on natural gas prices in recent months.

However, as the market reacted to the release of the report, natural gas prices rose. The significant gap between the data in this report and the market's expectations has put natural gas prices on track to gain upside momentum.

Additionally, traders will also be keeping a close eye on the weather forecast, with expectations that demand for natural gas could increase in the coming days, and favorable weather could provide further support to the natural gas market.

From a technical perspective, natural gas is trying to break through the strong resistance level of $2.25 to $2.30. The Relative Strength Indicator (RSI) is in the neutral zone, implying that there is room for further upside in natural gas prices. If natural gas prices can stabilize above $2.30, the next target will be the $2.45 to $2.50 resistance area.