May natural gas:
1. In Fridays (March 31) Williams edge live meeting it was noted that a daily close at or below $319 could be shorted for decline to $314/$13 or lower into Monday, April 3 (+/-1 day).
2. Subsequently, Friday’s session closed neutral to $319 ($319.20) leaving some uncertainty as to new short entry. However, after a brief rally to $324, May natural gas failed and today (Monday, April 3) completed the $314/$13 downside target (today’s session low, $313.40, so far). Lower prices remain possible, as noted in today’s meeting. Will update.