Price Seems to Be Consolidating Either Side of $6.00
Daily Continuous
All this week prices moved either side of $6.00. Monday was a big rally to test resistance and failed — Tuesday a big decline (eliminating the rally) to test mid level support only to fail with the $6.00 number just about in the middle. Guesses are there seems to be some sort of equilibrium, in the traders eyes and positions, to facilitate this behavior. The range has held through weather forecast changes, news about the LNG plant a a bearish storage release. That is a lot of bearish headlines and here we sit in a tightening range. Work the extreme ends.
Major Support: $5.61-$5.44, $4.716, $4.705-$4.68 Minor Support: $5.47 Major Resistance: $6.314, $6.456, $6.74, $7.18, $7.532, $7.71-7.75, 8.021,
