The Sep'09 NAT GAS contract is a little extended and is set to press good directional support at 2.877. If the MKT is ready to stabilize we will get a reaction here. A held failure from 2.877 is a fresh negative signal that puts the contract on edge with 2.640 and 2.288 the extended targets.
A positive reaction off the 2.877 support pivot has the potential to bounce the MKT back up to the 3.240 Inflection Pivot in the session. Don't get excited. It's not time to buy any calls, as a rejection is expected. Only above 3.408 is there hope for a recovery but even that is expected to fizzle out below 4.387.
JS
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