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.
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.
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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