Nat Gas: 4340/30 Area Remains Very Important
Jason Sen | Jul 03, 2014 03:52AM ET
Natural Gas broke last week's low at 4375 keeping the market under pressure for the next downside target of 4353/48. The 4340/30 area is very important support today. There is a strong chance of a low for the week here. We look for a move back up to 4375 and above here is more positive for today. We could then target strong resistance at 4395/4400. Watch for a high for the day here but if we continue higher look for a selling opportunity at 4435/55. Shorts need stops above 4480.
Try longs in the 4340/30 area with stops below May lows at 4289. A break below here then risks a slide to April lows at 4225/20.
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