Too much risk to short at this point, but I'll start accumulating for a long term play at $2.17 if it gets there,- all the way down to $1.90 in 5 cent increments... Will then hold into mid January 2019 or $2.95, whichever comes first..
Nice double top, retrace to the bottom of the channel, potential full breakdown depending on the broader market over the next month.
No support if we break 2.50 tomorrow, If we rally 4-5% tomorrow and end the week green then the pattern looks nearly identical to last year... just a few weeks late. I'm long as I think avg storage, normal winter, and LNG exports offset the excess storage to be brought online, and only the production increases have been priced in at this point. A cold winter could...