RE:Of Notefrom last years storage at this time and doing the math of percentage below last year level and price point, and comparing to above 5 year average and today's price point. I come up the middle point of $2.34 and a Range of $1.94 to $2.74.
When the current weather is no longer the near term focus by the overseas weekend traders and the spring demand goes back to seasonal weakness of demand, the bear market will end only then. The reluctance of a push on small withdrawl report today to get above the resistance of Feb. sets the tone for a big drop in NG tomorrow.
Bear season will continue until summer demand hot weather takes over the driving forces.