The normal daily range has stabilized it's trend channel, It did not go through the bottom of the bollinger range. The 20DMA looks to me as a guide to a side ways channel for the coming month. The present range is $3.92 from our bottom $3.51 that has already been recently established history.
There is a lot of money to be made from this sideways channel.
The storage report tomorrow will be a draw down for sure, look at the range of estimates, 40 to 90 bcf draw.
The buyers are already getting nervous and pushing the price back up and want to replenish while the price is cheap. Is there short covering to lock in profits after a week of gain on the short side too ?
There is one thing for sure, is that what happened last winter....well in my experience as a person who worked outside for 40 years....."It sure aint like last winter" ...is a commonly heard anecdote. Once a continental high gets established this winter , it will not go away and cause record draws from storage, and the traders will start worrying about summer shortages for electrical generation.
IMHO be on the long side of NG from here on, until we hit the top of the bollinger range.