Nice gains off of the rebound — now the market needs to digest the battle between dry gas production vs demand and LNG– commonly referred to as the storage release. Technical data points continue to support the rally, but as the chart above shows the rallies have run into profit taking and a lack of commitment to higher prices.
Major Support: $7.55, $7.14, $7.078, $6.88, $6.754,$6.38, $6.02, $5.623, Minor Support:$7.35, $7.41, $6.42, $5.548, $5.40-$5.45 Major Resistance: $8.95, $8.996-$9.057
