Can’t imagine a more neutral week with neither the testing of support nor resistance occurring during trade — boring. Natural gas has provided me many “huh” moments over trading in the last 25 years and I can’t shake the feeling that I am headed into another one. Quiet trade– volume decreased over the week (WoW), open interest decreased over the week– nobody is playing in the pit which scares the daylights out of me. Speculative trade lowered positions through the 14th by 5,786 contracts, while speculative length added 9,529 contracts. Perhaps I am just a cynic, but something is brewing in the gas market- just don’t know what nor when.
Major Support: $1.484-$1.44, $1.336 Minor Support: $1.527, $1.66, $1.722 Major Resistance: $ $1.864-$1.896 Minor Resistance:
