Daily Continuous
While it is likely that NatGas will follow the rallies and support found in the Crude trade- it is becoming evident that the Crude trade may be “calming” which will limit any dramatic moves in gas. Trade seems to be quiet in the early Sunday night markets in both commodities. While traders looked to the weather report releases a month ago– now we have to watch the news channels. One solid element of trade, with the slowing of volatility — options can provide a lower cost avenue for directional bias.
Major Support: $3.051, $2.87-$2.84, $2.640-$2.57
Minor Support/Resistance : $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736