Traders Say $2.30 No Problem for May Futures

For the second trading session in a row yesterday the Maycontract dipped lower at the open, but was unable to completelyfill in the chart created between last Wednesday’s $2.18 high andThursday’s $2.20 low. And once that early selling pressure driedup, the market was free to rally on waves of buying by both localand commercial traders. The May contract pressed higher throughoutthe session, spiking above the $2.30 level at the closing bellbefore settling at $2.299, a 7.3-cents advance on the day. Atechnical difficulty at Nymex last night suspended the after-hourscomputer-only Access trading session.

April 27, 1999

Futures Quiet Ahead of Storage Data

For the first half of December, natural gas futures have been awhirlwind of volatility, where chart gaps and double-digit pricemoves have been almost the norm. So it came as a welcome change forsome when the prompt January contract exhibited a more sedatedemeanor Tuesday, trading within a narrow band and settlingunchanged for the day. Estimated volume was a relatively quiet50,593.

December 16, 1998

July Falters on Technical Selling

Traders love to fill in chart gaps and Monday’s strong open leftnot a wide chasm, but a small and clearly defined gap between $2.04and $2.05. To that end, sellers wasted no time Tuesday in pushingthe July contract lower. And once the gap was filled in thecontract continued to fall, settling at $1.989, down 11.1 cents.

June 17, 1998
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