Natural gas markets have gapped lower to kick off the week, and then broke down to the $2.77 level,
an area that had been support of last week.
Currently, the September contract is trading higher by 3 cents at $2.82.
The market is trying to figure out where to go next,
and therefore anticipate a lot of volatility. Overall, we are closer to the bottom of the overall range,
so it sno surprise to see a bit of a pop over the next several sessions. That doesn’t mean is going to be easy,
and there is a lot of noise just above current pricing. The $2.70 level is a major support level that extends down to the $2.60 level.