Crumbling

Technically Speaking, Futures Strong into Expiration-Day

Despite a lower open and crumbling cash market values, naturalgas bulls fought their way higher on Friday as February pricesmoved above a key momentum number on technician’s charts. TheFebruary contract spent most of day trimming losses incurred duringthe overnight Access session, which paved the way for a lateshort-covering rally. The prompt month finished the day at $7.256,down 1.4 cents for the session but well above its $7.10 openingmark.

January 29, 2001