This is the January 2019 NG weekly chart and it looks nothing like the daily chart. For the last month, Natural Gas Prices were correcting after which NG prices exploded. This morning NG prices exploded again, so chances are good a small 4th wave has developed. An NG rally going into the winter/spring season is not all that strange. There is an open gap open below, which could get filled at a later date. For now, one more push to the upside would be nice. There is an LNG terminal planned in BC, and I think that is a good thing. Still, there are seasonal changes that affect the NG prices which can still drive the prices a bit higher.
I would be very bullish longer term if the commercial hedgers were net long instead of net short. They are far from being net long, which does not support a huge impending bull run at this time. NG sure is not on a 5 wave impulse run as the angle of the 2018 move has been too fast and straight. Natural Gas prices are also diagonal wave structures so you can always expect a wild ride when you least expect them.