By CommoditiesMansion.com
With the explosive move today, there can be no real doubt that the market has seen a need for higher prices. We have blown through what was once massive resistance at the $4.05 mark, and are now heading higher. The next major resistance area will be found at the $4.30 area.
This market should find support at $4.05 as traders will certainly be excited to enter on the long side. For the time being, it appears there are a lot of speculators betting that the Japanese will be importing a lot of LNG, therefore driving prices up in this market.
