The January gas futures contract dipped slightly Tuesday, with prices consolidating in the low $2.30s per million Btu.

摘要

Whether this is a floor or a ceiling isn't clear at this juncture. Odds are bearish supply fundamentals and a warmish near-term outlook will press the contract back into the $2.20s; however, gas traders have piled up a massive short position that easily could trigger a technical rally into the $2.50s.