Author: Willis Bennett
Testing Support Zones Hoped For
Quiet Day
Natural Gas Wastes Little Time
Bullish Move But Caution
Bullish Weekly Close

Detail the bullish break that occurred last week in the Weekly section, but for the Daily I can only submit that the bullish close and the higher close and the technical damage would support higher prices this week but the initial phase Sunday night has prices lower by $.27– granted on thin trade. The market has declined from just below $2.00 and has rallied 50% in just over a week of trade (8 trading days)– so it is likely there will be an additional consolidation process coming this week. Look for a decline to the area that was resistance around $2.53.
Major Support: $2.00, $1.795-$1.766
Minor Support: $2.53, $2.41- $2.34
Major Resistance$2.836, $3.00, $3.536, 3.595
Price Consolidation ?
Still Need a Solid Test
Looking For Support Test

The second step of the bias change will come with a solid test of support and prices rebounding from the test. Yesterday just provided additional gains with volume expansion into the $2.70’s. Recent runs have provided technical damage to the bear bias of the last few months — but the medium term bias has not be defined — yet.
Major Support: $2.00, $1.795-$1.766
Minor Support: $2.41- $2.34
Major Resistance$2.836, $3.00, $3.536, 3.595