Tuesday, September 29, 2009

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.

No comments:

Post a Comment