UNGNatty's bullish close above resistance offers traders well defined risk. It looks like a reasonable 1:10 risk/reward entry here with a lower volume area. The ceiling with the "value area" appears to leave plenty of room to allow prices to continue into resistance. Volume looks good; however, cumulative buying looks weak. If it remains so prices will likely retreat. Trade with a plan and take profits into resistance. Never like holding the "widow maker" long.
Good luck!
Ng_f
Natural Gas Weekly/Daily Charts Aligning BullishlyFor the first time since I've added NG to my watchlist two months back, its weekly and daily charts are pointing bullishly. NG has been testing a 2yr plus uptrend support over the last few months, and is flirting just above it currently ahead of tomorrow's inventory figures. Weekly RSI, Stochastics and MACD are all turning up. For those who've never traded NG, be cautious as volatility will spike tomorrow around the release of inventory numbers and may present a false (or legitimate) break below this rising support line. Visit goo.gl for today's technical analysis on $NG_F, $ZC_F, $USDJPY, $VIX_F, $NQ_F, $NFLX, $TSLA, $ES_F, $USDX, $EURUSD, $EURCHF, $CT_F
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UGAZ Natural Gas 3x Velocity SharesI am basing this technical study based off last years september cycle. Simple pattern autocorrelation.