Well, guess I was a little off base when prices only declined to $2.647 which was well above the close and expiration of the September contract. The Labor Day trend, though, has not completed yet so perhaps the prognostication will prove relevant. Time will tell — storage release — yee haw, the gap between 5 year and this year continues to narrow but the story remains the same — we got plenty of gas in the ground. The bears have to realize that depending on forecasts and actuality, that “surplus” can disappear quickly in November. Trade wise the top of the range now is $3.00 and expect selling there.
Major Support: $2.47, $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support $2.38-$2.26, $2.17 Major Resistance$2.83, $3.00, $3.536, 3.59
