February 2013 natural gas futures fell today, finding fresh support twice before settling in at a lower choppy range. The next level of trendline support lies around 3.42 and a violation of that mark from Friday last week would signal a range closer 3.40 is ahead.
However, much colder temperatures are sure to set off fresh drawdowns in total national supply as demand for home heat increases. The past week has seen nattie as high as 3.64 and has tested support three times at 3.52 four times before moving incrementally and hastily to the downside.
Currently, February 13 Natural Gas is down 0.10 on the day to 3.46.