A broad commodity sell-off weakened both cash and futures prices for much of this week, although some spot prices rebounded early on as tradersrnreturned to the market in droves following the extended Independence Day weekend.rnThe gas futures market tumbled sharply throughout the week, with the August NYMEX contract settling Wednesday at $12.006/MMBtu, representing an 11.6% loss since the start of the week.rn"A lot of this is technical," said Pax Saunders, an energy analyst with Gelber & Associates. He indicated the contract had fallen past key support at the $12.20/MMBtu area and dipped in electronic trading below psychological support at $12/MMBtu.
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