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United States Natural Gas Message Board

  • racerdanny99 racerdanny99 Mar 19, 2013 10:16 AM Flag

    Here is the jersey city analyst.

    From yesterday, fundamental reason for calling $4.

    Gas at $4 per million British thermal units represents a 50 percent retracement between an intraday high of $6.108 on Jan. 7, 2010, and a 10-year low of $1.902 on April 19, 2012, said Walter Zimmerman, chief technical strategist at the brokerage in Jersey City, New Jersey. Ratio retracement is a tool used to calculate support and resistance levels for gas futures by looking at the midpoint between recent highs and lows.

    “If we take out $4, the spring break in natural gas prices, the correction before summer arrives, is going to end up at much higher levels than I would have thought would be the case,” Zimmerman said. “We are still going to see a seasonal pullback. It’s delayed by the delayed appearance of spring.”

    Sentiment: Strong Sell

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