Spoke last week about the range that was developing for the Nov contract and discussed the expansion of the as well as the trend regarding highs and lows (Weekly section). That said, given the higher lows traded during July and August the long term downtrend appears to be evolving into a wide contracting trading range.
Wanted to alert folks to the premiums currently awarded to December and to January gas (their ability to hold those premiums, are going to be critical to the continuation of the current range. Given that uncertainty, Stick to the range for buying and selling discussed last week as the range has not dramatically changed in the last week.
