One of my old time clients called me yesterday and asked when this type of cross commodity run had happened and how did it effect natural gas. I mentioned it would take me some time to put the charts for the other commodities and if I am bored over the weekend, I may just do it. Regardless, he and I agreed that neither one of saw this kind of melt up on the May expiration coming- it will be interesting to watch as I got cleared on May’s with options and contract yesterday and now want to see how June takes over on storage Thursday. As mentioned in a couple of articles this week — if June holds the gains from expiration then this summer may provide volatility in the Q2 trade we have not seen for a few years.
Support: $2.71-$2.70, $2.658, $2.52, $2.422-$2.414, $2.373–$2.356,$2.255-$2.176 Minor Support: $2.694, $2.483, $2.162 Major Resistance: $2.897, $2.89, $2.98-$3.05, Minor Resistance:
