After posting modest gains last Thursday, the futures marketagain succumbed to selling pressure Friday as traders tried to pushthe December contract below support at $2.25. But, $2.265 was asfar as the contract could plumb and the prompt month was left tosettle for the week at $2.275. Sources pointed to bearishfundamentals and weak, last-day prices as reasons for the decline.

Looking ahead, a Chicago-based utility buyer relishes hisposition coming into the first month of the winter heating season.He eschewed buying baseload supplies this month citing copiousamounts of gas in storage and warm weather forecasts for the firstpart of the month. “The futures market will have a hard time movinghigher with bearish fundamentals like that,” he said.

On a move lower, the December contract will find immediatesupport at the aforementioned $2.25 level. Resistance stands at$2.35 to thwart a price rally.

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