The failure of May gas to correct before going off the board would be a departure from the pattern of each expiring contract for more than a year…as would a failure to rally into expiration. Expect both to happen over the next eight trading days. Given the strength into Thursday’s pre – holiday close further extension of the rally should not be a surprise, but traders should be alert for a reversal as discussed in the Weekly area. My guess is that a good chunk of last week’s gains will be shed.
Major Support:$6.538, $5.27-$5.199, $5.001, $4.40-$4.26, $4.187, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $6.757, $6.00, $5.063, $5.04, $4.88, $4.60-$4.557 Major Resistance: $7.346 , $7.427, $7.536
