I was reflecting on the most likely path of the market for LNG...

I was reflecting on the most likely path of the market for LNG on Tuesday and I believe:

If it falls giving continuation to the current trend, it might close that little gap around 70c... BUT

given the speed of this rally, a lot of people/pros/institutions missed out and they would be waiting for an entry to join the party. There's also a huge gap (1.07-96c) left behind which normally attracts the price action back (historically witnessed in many charts).

So if it falls, which I think it will at opening, I believe there will be a surge of buyers that will catapult the price again above $1. On top of all that, there's a lot of news on the web (and a lot denying too ;-D) about the oil glut possibly disappearing in 2017 taking the oil prices to $100's...(if that happens, OMG!!!) So, there are more reasons for LNG to go up then going down now IMO. Eventually, LNG will correct nicely, but it might go over $1.30 before it does it properly...

Good Luck to All.
Saci