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Posted on 3/3/15 at 2:15 pm to white perch
Monitoring the situation carefully.
"The major level that this market must break in order to achieve this suggested 2.20 would be 2.59, our current yearly low and a supportive level since 2012. Upside resistance levels exist around 2.80, 3.00, and the un-filled gap in-between 3.21 and 3.27."
To oversimplify, what they are talking about is to get to $2.20, which is the price point drop as a percentage of crude, and also where gas dropped before bouncing in 2012. During the summer, not winter.
"The major level that this market must break in order to achieve this suggested 2.20 would be 2.59, our current yearly low and a supportive level since 2012. Upside resistance levels exist around 2.80, 3.00, and the un-filled gap in-between 3.21 and 3.27."
To oversimplify, what they are talking about is to get to $2.20, which is the price point drop as a percentage of crude, and also where gas dropped before bouncing in 2012. During the summer, not winter.
This post was edited on 3/3/15 at 2:33 pm
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