UNG retracement complete- to uptrend again.
Updated
UNG as shown on the 15-minute chart had an untrend for a week culminated by the very steep
finish to the uptrend into resistance followed by a very rapid bounce down and retracement.
A standard 50% Fibonacci retracement is now complete. UNG appears to be bounding off
the POC line of the volume profile which coincides with the 0.5 Fib level.
UNG tracks the natural gas futures, especially the leading month. It appears now ready to
resume an uptrend. This is a directional bearing on the trend for any instrument based on
natural gas prices including XNGUSD on forex.
finish to the uptrend into resistance followed by a very rapid bounce down and retracement.
A standard 50% Fibonacci retracement is now complete. UNG appears to be bounding off
the POC line of the volume profile which coincides with the 0.5 Fib level.
UNG tracks the natural gas futures, especially the leading month. It appears now ready to
resume an uptrend. This is a directional bearing on the trend for any instrument based on
natural gas prices including XNGUSD on forex.
Trade active
BOIL flushed down two hours ago about 4% now @ 3.12 ; one hour ago price crossed above the long-term moving average from below as a buy signal. Currently at deep discount. Added to the position.Trade active
Nice action in the premarket- took partial profit at the high' added more back in at the pivot low.
Trade active
Nice action today with 2.8% net price rise with higher than normal volatility. Call options hit over 100% today Closed 1/3 of them and the rest will run tomorrow.
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