$LNG update: look for 17.40 $LNG has chopped thro

$LNG update: look for 17.40

$LNG has chopped through the 16.50 resistance area and could be basing for a slightly higher move. I like the resistance in the 17.40-17.50 area better now as a short trade entry because of a prior pivot and a a 78.86 retrace. There was a very good move down last June and October when it traded into this range and I think it's overdue a deep retest before it can start making new highs again.

Any daily closes above 17.50 would mean that I'm wrong and nullify the short. I would really like to get some long exposure on $LNG as per my long term bullish view on nat gas, but until it proves to me that it isn't going to fall on it's ass like it does all the damn time, I'm not treating it any different as I would any trade.

[IMG]http://i.imgur.com/kVPeE.png[/IMG]