I am reminded of a tune where the lyrics say “workin hard for the money….” That defines the gas trade of recent — the bears want that breakdown so bad– to see what lies below. As mentioned in the Weekly section there is this type of support well into the mid $1.90’s and then just below that for another $.15. Perhaps they believe that the fundamentals warrant prices down to a multi decade low below $1.40. That is why there are markets — representing differing views and speculation. I am looking for technical divergences.
Major Support:, $2.00, $1.991-$1.96, $1.795-$1.766 Minor Support : Major Resistance $3.00, $3.16, $3.48, $3.536, 3.59, $3.65
