… an area of support, albeit temporary. Therefore we could witness a bounce from here. The support window is fairly wide but the convergence is at 10.20. If we do get such a rebound (wave 4) prices could carry up to 11.85 to 12.03. Rather than try to trade that rally from the long side, The accompanying chart indicated the general trajectory I expect prices to take. I would wait to sell its completion in the above mentioned target area. I will issue my regular technical commentare for Thursday.
JbG
UPDATE
February Natural Gas
The selling this morning could be climax selling (in wave 3). If so then we may see a bounce as shorts cover to give us the wave 4. That rally should prove to be but a reactin rally and eventually sold.
JbG