NG Jan will be $4.20 sooner than everyone thinks.
The 20DMA trend is still saying so
weekly bar and monthly bar charts are still saying so
Next day delivery gas is trending higher with the seasonal effect.
The trend is showing a bias towards higher Jan natural gas and when that cold weather drops out of Canada , and when the Chicago boys will have to put on their LONG johns they will suddenly say this nat gas is too cheap, lets drive 'er up .
Seems to me, that the players are just messing around unsure of what the reversal in storage draw down really means, but unwilling to cause the charts to violate the lower side of the bollinger band trend in the heating season.
IMHO the weather will have an extreme fluctuation cold event , ie a mini ice age, The super storm Sandy has to be balanced out That Cold High pressure that stubbornly refused to move from the southern tip of Greenland that caused Sandy to push all the way into the Ohio Valley/Great Lakes area was showing that the arctic cold high pressure are much stronger this year. When one gets established over the North American continent this winter, it will stay there for a long long time and could prevent a growing season from starting until Mid July which will cause high draw from storage and cascade into crop commodities.