Discussed the technical damaged suffered by prompt gas this past week, in the Weekly section– from there I can propose some of the following trade ideas — expect February settlement to be discount to January ($2.621). Though prices in the late Sunday trader are already challenging- expect March to find support/sponsorship between +/- $2.100 (March’s December low was $2.098, the low of a daily reversal) and $2.240 (the past week’s low was 2.237). As mentioned in the Weekly section–expect the historically important January low to be traded during the two days following February expiration. Failure of March to rally during the coming week will suggest a strong possibility of a test/violation of the continuation December low ($2.235).
Major Support:, $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support $2.47, $2.38-$2.26, $2.17 Major Resistance $3.00, $3.16, $3.48, $3.536, 3.59, $3.65
