NYMEX Henry Hub Report

Date:    February 22, 2012

Nat Gas is fading this morning as storage numbers are coming in all over the board.  This piercing of the 2.60 level looks like another shot at pinning $2.50 and that is where the BIG Put OI is with 3887 as of this writing.  It is covered by the calls at 2.75 but the Puts almost always win.  We are currently trading at 2.599 off 2.2 cents as of 8:54.  NOAA’s 6 to 10’s are tepid.

This is likely to see another day of the choppy trade, but storage forecasts are likely to push the market a little lower, although we’ll like show a grab back in the morning – stock futures aren’t that bad, although the Big Banks are going to be a drag.  A little Bearish  but not very committed.  Choppy walking towards Friday’s Pen.

Resistance

2.605  2.733   2.844

Support

2.528  2.390  2.340 

Drew Wozniak
Vice President, Market Research and Development
ICAP Energy LLC
Drew.Wozniak@us.icapenergy.com

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