And that being the case, I think you’ve got a scenario where the $3 level makes a significant resistance barrier due to the fact that it’s a large, round, psychologically significant figure. Options are probably sitting right above there, and therefore it all ties together quite nicely.
If we were to break above the $3.05 level, then maybe we might see some momentum.
Underneath, I see support at the 50-day EMA at $2.88, and right now, this time of year, natural gas tends to be choppy, so short-term traders might be attracted to this fairly well-defined little range we have right now.
