Not sure why prices were down on the early trade on Monday — lack of volume and folks trading likely the culprits. The short term weather had significant demand that will start to show the power demand expected this summer and the potential impacts on storage balances. Went into the medium term impacts for gas in the Weekly section as well as some historical flavor for what happens in July trade. Not convinced that the upcoming week will challenge the $3.00 area, but technical indications are that is a matter of time.
Major Support: $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support:$2.47, $2.38-$2.26, $2.17 Major Resistance $2.816-$2.836, $3.00, $3.536, 3.59
