Daily Continuous
The run ran out of steam and retraced after the storage release which I thought was bullish miss. That is why I don’t follow trade on fundamental data. The declines did not break below $4 and now that seems to be support. There are four more trade days in the March contract, and the decline I was expecting (to major support at $3.16) seems unlikely. Should the market remains supported over the next days there may be a new “range” or para-dime in natural gas during 2025. This recent strength should be respected and I will follow up with additional analysis over the weekend.
Major Support:,$2.727-$2.784, $2.648, $2.39, $2.35, $2.112,
Minor Support : $3.34, $3.167, $3.00-$2.95, $2.914, $1.856,$1.89-$1.856
Major Resistance: $4.00, $4.201, $4.378-$4.394, $4.461,