NATURAL GAS MARKET DROP ON MONDAY

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Natural gas markets drifted a bit lower during the early hours on Monday, testing the $2.75 level. The major support level below at the $2.70 level has been the scene of a lot of buying over the last several months, so I suspect that this point there is probably somewhat limited downside. If you are short-term trader, then you’re looking for short-term rallies to sell that show signs of exhaustion. However, if you are looking to place a trade for a little bit bigger move, you should be aware of the $2.70 level and its natural proclivity to bring in a lot of buyers.