I rarely dive into the “fundamentals” associated with natural gas– but due to the quiet range trade (prices declining back into the range either side of $6.00- discussed here for over a week) wanted to take a shot at the quandary that fundamental traders face. Near term the forecasts are for cold temps and higher demand near term (10 days) but then the models have some warming after that period. So how the folks trade this contradiction – not sure– but the range seems a safer way to trade.
Major Support: $5.61-$5.44, $4.716, $4.705-$4.68 Minor Support: $5.47 Major Resistance: $6.456, $6.74,$7.00, $7.18, $7.532, $7.71-7.75, 8.021,
