Last Week Damaged the Declines

Daily Continuation

Major Support: $1.611
Major Resistance: $1.99, $2.029, $2.08-$2.10, $2.34, $2.437, $2.48-$2.52,
Minor Resistance: $1.883,

Last week looked calm from the trade range standpoint, as prices closed the week higher. However, it was a classic outside week reversal for natural gas on significantly higher volume after prices tested the lows (failing to extend lower) from numerous years (discussed on the website). While the range is intact for day trading, it is time start being aware of the issue that the market may be changing its stripes.