Wednesday, January 27, 2010

Natural Gas Update

From Jan 20.,
Natural Gas Consolidation Whether it dumps from here or test's the high of the range, there is a HIGH likelihood of an eventual move to new lows from this formation. In general this kind of choppy action is to be expected with this structure down. Would not be surprised to see it last through the shoulder period accompanied by a decrease in volatility as it makes it's way toward 4.00 / 3.50."  Yest morn Mar 555 strad was 60 @ 63, this morn the 545 was 58.5 @ 60



Just barely printed new lows a few moments ago though it barely counts. The structure down does have a 5 ish look to it though, so a retrace to one of the Fib levels, maybe the trend line may be in store.

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