Nat Gas up seven days in row – how much higher

During the past seven days natural gas has been as low as $4.22 and as high as 4.703.  That’s over a 10% gain and from a technical viewpoint perhaps a bit overbought.  There is obviously fear in the gas market that storage injections will not meet the needed amount of gas in the ground by next winter.  With prices this high it’s sure to have power plants that can burn coal ….burning coal.  For consumers we’ll need some early big injections to change the mindset of the “bulls.”  I expect a pullback even if temporary as it’s time for this market to take a breather.

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