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So, at this point, it’s just a wait and see, but it is worth noting that we are in an area that could be thought of as a double top. We’ll just have to wait and see how this plays out. I think if the market breaks back down below the $4 level, I’ll start to short it. I do not like shorting natural gas, but I try to do it once a year as we leave the cold weather temperatures. Right now, though, this looks very much like a market that is moving on the next two days weather forecast, which makes it very difficult to trade.
If we break out to a fresh new high, well, then we could be talking about an air pocket all the way to $5. I don’t think that happens. But in all fairness, I didn’t think we would be trying to test the high to begin with. So, we’ll see if we break back down below four, I’ll short it otherwise may be forced to reevaluate the entire situation. Maybe buy it on breakout, but I don’t like this type of momentum because it normally ends in tears. You normally end up chasing it and losing money. So, I’m watching this very closely, especially around that $4 level.
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