July natural gas futures closed a half of a penny above key $2.40 resistance following a slightly bullish storage injection

摘要

The robust three-session rally has move the contract just under 11%, or 23.6￠ higher. 'From a technical standpoint it appears that the market wants to test $2.50 within the next week or so,' Gelber & Associates analyst Kent Bayazitoglu said. 'This is will be a much more formable hurdle than the $2.30 or $2.40 resistance levels. More of the weather models are confirming the arrival of hot weather coming to the Midwest by next week.'