The market is confusing my analytical mind set on the fundamental data points. Clients tell me that the fundamental data (weather forecasts and HDD’s below normal) is rather bearish– yet the market gaps up and maintains the gap during the trade day. Confusion reigns. I do see that the Dutch TTF contract seems to be on a tear and has been for last couple of weeks. Is the market implying that there is some trading between the two markets — (LNG relevant)– this could be interesting to watch through the month as I explained the potential impact from the Feb contract during January, for the rest of the year.
Support: $2.373, $2.255-$2.176 Minor Support:$2.547, $2.483, $2.162 Major Resistance: $2.74-$2.789, $2.98-$3.05, Minor Resistance: $2.806
