Natural gas futures started this week with a gap-up opening nearly 5% hihger amid expectation of cold weather would cover most of the Mid-West and North-East until the end of this week.
Undoubtedly, the upcoming weekly inventory could remain supportive for natural gas bulls. After testing the high at $4.209, futures found a steep slide and tested the low at $3.978 before starting a sharp recovery.
On Jan. 11, natural gas started the day at $4.128, tested a high at $4.140, and a low at $4.008. Futures are hanging well above the psychological support at $4 and the 200 Days Moving Average in the daily chart ensures a bumpy move soon.
The growing noise that a fresh cold blast will arrive in mid-January could push national demand for gas up to a new high.
On Jan. 12, futures could try to hit $4.336 and then there may be a bumpy move to test the next psychological resistance at $5 during the following week.
On the lower side, the $3.976 level could continue to attract value-seekers to go long. If futures close this week well above $4.5, once again, a gap-up opening could be seen on the first trading session of the upcoming week. 
Disclaimer: The author of this analysis does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is one of the most liquid commodities of the world.