Natural Gas Spot Month at Seven Mo. Highs
The Spot Month roll accomplished what the the outright contract has been having difficulty achieving; significant highs on the chart, retaking 7.5 mo.s of downside. Take note that a 4th of 2 lesser degree's is at 4.88 on the spot chart .
In the meantime the Nov. contract can pull back a good way and still maintain the current intermediate and long term upward expectations. Even the 4.30/ 4.40 area would not really damage it. Shorter term, eyes will be on the simple .62 retrace of the last leg up.
In the meantime the Nov. contract can pull back a good way and still maintain the current intermediate and long term upward expectations. Even the 4.30/ 4.40 area would not really damage it. Shorter term, eyes will be on the simple .62 retrace of the last leg up.
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