Guess we’re going to throw the Mar contract under the buss but the up-coming summer strip is not showing the weakness that the prompt contract is. What’s that all about– perhaps folks know that the winter is going to end with the storage well below the 5-year Avg, additionally with the lack of significant new drilling (production) coupled with the LNG demands continuing — perhaps the upcoming summer will provide the potential for stronger prices. There I go again diving into fundamentals– I would look for prices to consolidate in this area ($4.00) before a new directional bias develops.
MajorSupport:$4.057-$3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: MajorResistance: $4.46-$4.48,
