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Feb N Gas


… 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

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