United States Natural Gas Fund ETF (UNG) chart analysis ;1) Focus on both trendlines (blue and red) on the chart
2) Trading system (5&50 exp MA crossover) still not activated
3) Resistance level is "quite clear"
Gut feeling ? Allow a pull back first before going long again
4 comments:
any difference between trading UNG versus futures or options?
UNG is crazy. I like it. :D I bought a bunch of UNG around 12 and after the selloff I bought more around 9,5.
I think this one wants to move higher, but there is a resistance on the chart around 12 (downtrending trendline), however I do like to watch the commodity instead of the ETF.
Another ETF which is trying to breakout is DBA. It looks like the breakout has failed today, so I will wait for a pullback and if it can move sideways outside the triangle, I will buy.
Why does gas go up when the market goes down?
What happens when you break ice on the tundra?
on the day before oil went up and nat gas went down, there is only negative correlation to observe in 2009 between these commodities
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