NYMEX Henry Hub Report
Date: March 22, 2010
Nat slid overnight and is currently trading 4.070, down a penny as of 8:53am EPT. The market may finally taste $4 today, and while it may be oversold, that doesn’t mean that it can’t still fall. Internal Storage Change estimates at are typically distributed midday within institutions, and we are likely to see our first build of the year.
The play it so sell NG and buy CL so our spring time commodity linkage is becoming established now. This is typical as we enter the spring shoulder. Following the big guys is not a bad move. Bearish.
Resistance
4.130 4.292 4.469
Support
4.050 3.900 3.797
Drew Wozniak
Vice President, Market Research and Development
ICAP Energy LLC
Drew.Wozniak@us.icapenergy.com
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