Prices ran up to the high side of the new range and promptly failed. This is now trading like a “normal” commodity behavior instead of the rocket ship we enjoyed last month and early in October. Would expect prices now to test support area established earlier this week before next week’s storage report. On the other hand, the market seems to be correlated to other gas futures in Europe, Great Britain and Asia– so not having a license for those contracts, leaves me cautious at best.
Major Support:$5.416, $5.341, $5.17, $4.88, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821, Minor Support: $4.728-$4.70, $4.66 Major Resistance:$5.63- $5.68, $5.876,$6.24-$6.49
