Market Digests Losses

Daily Continuation

I know the storage report is released today but the market doesn’t seemed that concerned about it. My thoughts continue to be that prices will likely continue to test the lows but will be subject to “knee jerk” reactions from weather forecasts. The recent range is intact near term ($2.44-$2.673), with the only expansion toward the downside.

Support: $2.373, $2.255-$2.176
Minor Support: $2.483, $2.162
Major Resistance: $2.74-$2.789, $2.89, $2.98-$3.05,
Minor Resistance: $2.547-$2.566, $2.806

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