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So, with all of that being said, I think you have a situation here where you very well could see natural gas continue to be noisy, but I think ultimately the real question is, can we break down below the $3.50 level? Because if we do, then I think you have a real shot at natural gas breaking down for the season, which is what I would expect given enough time, at least in normal years, that’s what you typically see.
So, with all of that being said, I find this a market that I’m looking for signs of exhaustion after short-term rallies to start shorting. I think the $4 level will now start to act as a bit of a ceiling. And if we can break above the $4.20 level, then we could go to the $4.50 level, which I think is even more resistive. So, I’m looking for a short-term pop, signs of exhaustion, and then I short, that’s how I’ve been playing this for a couple of weeks now.
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