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Re: Nat gas futures revert to gains after data/Hal

Hi Hal,
Thanks,

It is hard to see the difference between the two weekly charts ???

But to stay with you, the (undrawn up trend line) would be from Sept 09 low to Nov. 10 low and extended forward??

- That it has yet to be tested. If that is the correct line, it clearly has not been tested subsequent to Nov 2010.

So, Anyway, what are the begin/end points of the uptrend line you mention and where was the test that held ???

If the line was drawn as described above on the earlier chart, maybe with some staring, I could conclude that "today/yesterday" was a "test/bounce" off of that line ???

BTW:
I am looking at the Sept. Futures (continuation chart). I notice yours refers to "spot price".

Some folks refer to "spot price" as the "front month" which would be Sept. Others in Ng etchings refer to the HH (Henry Hub) prices as the "spot price". That chart I cannot get, at least without resorting to going else where for it.

On This:
"test and kiss this most recent low good-bye."
That would be the low of about 3/07 2011 ???

That point (3.77 ish) looks to be a pretty good S/R line as well !!!

Thanks Hal, appreciate the comments.
Lee
PS [Note the "resource reductions comment in this]
Here is a comment from a site that Silverbear posted a while back ...
"
The July 2011 Monthly Natural Gas Gross Production Report and July 2011 Natural Gas Monthly, originally scheduled for release July 29th, 2011, will be released August 2, 2011. The delay is due to processing difficulties arising from recent resource reductions to EIA.

Well **** them, Thanks for the info Gary. "

I think that may be what happened to today's report number. The "unhappy campers" just couldn't find the where with all to process a few pieces of paper into the storage report. Somebody will figure it out, but that 25 Bcf build can't be correct unless the prior weeks were all off and it finally caught up in the 8/5 "dip stick" readings !!!???