The natural gas markets remained fairly stagnant during the week as traders are digesting the recent break of the $4 level. That level had held up as massive support previously seems to be holding as resistance. This makes us bearish long term but we are waiting to either short a bounce, or a break to new lows. This gives us a target of $3 based upon the rectangle that we broke through recently. The truth is that there is simply too much natural gas for the market currently, and this is a trend that should last for a long time.
Originally posted here
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