Can not claim that this leg of the run is completed — but yesterday gave a slight idea that the bulls may be running low on fuel. Off to a big gain in the morning, trying to test $7.00, only to spend the last 3 hours giving it all back and developed a bearish daily reversal off of a new high. Daily reversals are prevalent in gas so would not hang your hat on it but the volume on yesterday’s reversal was nearly 20% higher. As mentioned yesterday, the trade though the week’s end is key for the next couple of week’s price action.
Major Support:$5.27-$5.199, $5.001, $4.40-$4.26, $4.187, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $6.00, $5.063, $5.04, $4.88, $4.60-$4.557 Major Resistance: $6.538, $6.757, $7.346
