As updated forecasting continued to show June heating up, natural gas futures pushed further higher in early trading Tuesday. Coming off a 79.9-cent rally in Monday’s session, the July Nymex contract was up another 13.3 cents to $9.455/MMBtu at around 8:50 a.m. ET.

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With prices on Monday advancing past the $9 mark, a psychologically significant resistance threshold, this has “reset the technical outlook in a bullish direction,” EBW Analytics Group senior analyst Eli Rubin said early Tuesday.

The July contract could have a $10-handle as early as later this week, according to the analyst.

“Intensifying Texas heat is providing physical support for rising Nymex futures, with thin liquidity in a price-inelastic market increasing the magnitude of gains,” Rubin said....