Natural HAS moved up smartly and even now is over 3.00, up .62 from it's lows. BUT with the sharp retracement Fri., upcoming UNG roll (-1.07 ouch!), weakness in equities, WTI and Euro , the potential for an overlap of 2.74 is HIGH.
An overlap of 2.74 will raise the risk of the recent move up being a minor correction, with new lows under 2.41 likely.
However if NG gets a push to new lows, 1.95 is the C=A TARGET. Real dollar long term risk will certainly be to the upside.
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