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Price Action Continues on Strength

Daily Continuous

Daily Continuous

Major Support: $2.956, $2.874, $2.836, $2.762, $2.711, $2.704, $2.654, $2.58, $2.568-$2.522, $2.495

Minor Support: $ $2.938, $2.783, $2.704, $2.695, $2.61

Major Resistance: $3.103, $3.125-$3.136, $3.183

Missed my comments yesterday but they would of provided little strategic insight except that prices seem to be running based upon some fundamental concerns on where storage will end the month.  This is a struggle that I addressed last May only to have the market reject my concerns and trade to an early Q2 high at $3.053.  Now the market sits on a fundamental based issue of storage under 3.3 Tcf going into winter and dry gas production at 84+Bcf/d. Currently, the inventory folks are winning the the trade dispute.

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