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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (43028)	2/10/2006 9:57:41 AM
From: Logain Ablar	Read Replies (1) \| Respond to of 67751

Hi Harry: Fundamentals are lining up for a significant drop in North America NG (over what we've seen in the past few weeks) based upon the build up in inventory storage and lack of draw down due to the warm weather. Oil is still a wild card with mideast politics but @ the momment we are also seeing a significant build in oil inventories (not sure if this is light sweet or heavy oil). I personally believe this will be temporary (3 to 6 months) as demand continues to increase and supply doesn't keep up. TA wise I see support @ 55 (and wouldn't be surprised to see us test this) and then major support @ 40. I don't see $40 being breached unless we have a severe recession with drops in demand.