Natural gas markets sat fairly still during the session on Tuesday as the volume remained light from the holidays. The markets are currently trying to form some kind of base from which to rally it appears, and the $3 mark will almost certainly be supportive. However, with the sheer supply and demand question being so heavily skewed to the oversupply answer, the market simply cannot be bought. In fact, we are hoping for a nice bounce up to either $3.25 or $3.50 from which to sell. We would sell on a daily close below $3 as well, but not as enthusiastically as the previous scenario.
Originally posted here