After six days of gains for natural gas, prices went down yesterday, hopefully starting the consolidation period I have been looking for the last ten days. Today is expiration so the focus shifts to the Sept chart below:
Spot September Contract
Not a significant area of support but the area around $3.87 could be significant short term for the September contract either today or when it takes over as prompt. After the recent strength in the Aug contract and the trend of the last few expiration’s (discussed previously) — what happens today in the expiration is anyone’s guess.
