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United States Natural Gas Fund LP

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UNG trade ideas

Yeah, its an unfortunate confluence nowAn overhead resistance and a tweaked channel have colluded to make a an area that looks like a strong short for natural gas. The bars have changed colour and I think it could be a nice short play. I have not year decided how far this will go, please remember I have previously stated we are possibly in a bear flag. Also, don't misunderstand - I am bullish on natural gas long term, but since its breakout from its huge decline it could be time for a breather!
AMEX:UNGShort
by DanjaZown
2
The Natural Gas Bull Market May Have BegunUNG had a spectatcular move the other day (once again I was on the wrong side of the trade but I the ship has been corrected). Rather than buying shorts after a rise in UNG, it appears like a bull market is starting so dips must be bought. The massive descending triangle going back to 2017 seems to have been broken with an open and close on the daily charts. Worringly though there appears to be a small bear flag on this breakout, so don't get disheartened. So long as we stay above the maroon line we should be all right.
AMEX:UNGLong
by DanjaZown
4
UNG may have bottomed...From the chart we see a near perfect hit of a 1.27 extension of an impulse wave in the 11.5 region which may have marked a bottom in Natural gas, I say this because in recent weeks we are not seeing a pattern of lower highs and lower lows take hold. Furthermore there has been aggressive buying in related stocks such as SWN and RRC which may be an early indication of a change in the market trend. Using a Fibonacci trend based timing tool (horizontally w/ regard ot time as opposed to vertically for price) we see had relevance in predicting price reversals (from the 1 marked with a long vertical line in the graph) we are coming up on the 1.27 this Monday, it will be very interesting to see how the next few weeks play out.
AMEX:UNGLong
by TNasr