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The natural gas markets fell during the Monday session as the downtrend continued. The downside to the natural gas market continues to be the more interesting one, and as long as we stay well under the $3.30 level, we think that the downtrend will continue. It is at that level that we see the trend changing.
Breaking below the $2.60 level would be a very significant turn of events and push this market much lower. We think the massive supply out there of natural gas is simply far too much for the demand to push prices up for any sustained length of time. Because of this, we are selling rallies as they come.