Nat Gas ETF on verge of breakout!Gas has put in a solid bottom and is near a breakout. I prefer to see a back test ( BT 0.07% ) that does not close below the break out line with a wick that plunges deeper to scar off the kids.
UNG trade ideas
UNG C&H Forming On The Daily ChartOver the last 2 months, UNG has dropped from the $24 level, down to $22 and now it's back up to $24. In the last week, we can see the price consolidating at the $24-$24.50 range and is looking to pop higher.
Next level of resistance is at $27, which is a range of ~13%.
The C&H can be seen on both price, RSI and Stochs. Keep an eye on this, if RSI starts to turn up, jump on board because it'll be ready to rip shortly.
GL
I see a breakout to the upsideNat Gas is the fuel for most power plants, the heat wave is on so more power consumption, recent news of exports, It's cheap
$UNG $UGAZ -- 61.8% Fibonacci retracement entry$UNG $UGAZ is pulling back right at 61.8% Fibonacci level. As you may know, 61.8% Fib is my bread and butter trade! This is, to me, a perfect opportunity to get in NatGas going in December! Goodluck everyone!
for nat gas bulls UNG fund bouncing from weekly support....nat gas bulls r back just in time ...with colder weather forecast for weekend and next week in the WEST, South and Central US nat gas demand cud shoot up any time and with lower inventories if any can see the price soar high.
A storm is coming and it's bullish for NGCommodities like to move in tandem in the long run with a few divergences in the short term. Oil has been breaking out and NG will follow.
Natural Gas ReversalLarge volume and a wick after an extended down move in Natgas. Also forward curve is bullish relative to spot price. Don't buy UNG because of the roll decay, buy the spread NGH2018-NGJ2018.
Nat Gas - Waiting for DropWatching this channel for a breakdown. Want to see above-average volume. Below 5.90 means another big push down. Watching DGAZ
Buy UNG ranging $7.00 to $7.15all triple and double ETF's such as UGAZ and UVXY always head to zero quickly. They are only short term trades. UNG does not have major support until it gets into the $7.00 to $7.15 range. Once the UNG gets to this range, buy UGAZ, expecting a sharp bounce and able to multiple the gains 3X. This will be a quick bounce and not something you want to marry for months.
