Trading at the New York Mercantile Exchange was once againsubdued on Tuesday, as many traders seemed to stand to thesidelines in anticipation of the release of the AGA storage reportlater this evening. Amid what trading did get accomplished, theJune contract inched 1.5 cents higher to settle the day at $2.149.

The recent trend in storage data has been for a rising surplusto last year, but that may change today. GasFax estimated thattonight’s AGA storage report will come in at 35 Bcf, which isrelatively small when compared to last year’s actual AGA report of62 Bcf for the same time period. “That would be noticeably belowlast year’s report, which may have if nothing else at least apsychological impact on the market. It would be the first time innearly two months the surplus to last year decreased. That meansJune would probably rise, and more firmly establish $2.11 as amajor support level,” an analyst said.

If that were to happen, a technician feels June would likely bemet by short term resistance at $2.21, followed by more difficultresistance in the $2.27-285 area. Should June fall, however, lookfor support at $2.04, $2.00, and $1.97, respectively, thetechnician said.

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