So the report was released with what appeared to be a bullish withdrawal....Now what?
It's quite obvious that the market was anticipating a larger withdrawal, they have now digested the report and IMO the MM's will move NG higher anticipating next week's withdrawal to be substancially higher then this weeks....
The current NG price does not yet reflect next weeks withdrawal IMO..NG should move higher, same as last year, NG dropped a little last year after the report and then moved up 18 cents into first week of Feb.  After that it dropped to its all time lows....
Question is whether or not we see the same story unfold.  I believe the NG story will be re-written this year with this next move up to at least $3.70 and then another smaller drop to support at higher low of $3.50ish and then in mid-March early April we see NG takeoff to $4+ ahead of last years similar run-up....