Quiet trade continues to haunt the nat gas market with last week’s low not really seriously challenging the mid-term support levels before rebounding. Early trade last night shows the market stronger. Don’t put a lot of money chasing Sunday night rallies. Went into some of the longer term aspects of the reduced volatility and market impact in the Weekly section, suffice to say that I am not convinced of long term additional significant declines considering the current status of the market (per Weekly section). Play the range.
Support: $2.422-$2.414, $2.373–$2.356,$2.255-$2.176 Minor Support: $2.483, $2.162 Major Resistance: $2.74-$2.789, $2.89, $2.98-$3.05, Minor Resistance:$2.806
