Posted by lessarda on 23rd of Mar 2011 at 12:47 pm
Bought Apr10 calls when it cleared and held above the 20 day
last week; closed above the 50 day yesterday. Volume
waning since the 14th; RSI strong & approaching 70; 14,3
stochastic may be rolling over on the daily; could pull back after
this run; maybe come back to test the 50.
yes Natural gas has looked pretty good for a while for a bounce
as the 15 min and 60 min charts were constructive. However
it's just that most of us here hate the way that UNG trades and
degrades over time.
Here's a longer term chart, long term resistance is the
trendline.
in the short term the best time to buy it was last week,
otherwise it's getting a little overbought on the 60 min chart and
there is a gap to fill right here where it might find some initial
resistance. Otherwise for now the volume patterns are good on
the daily and 60 min chart, so I favor that it goes higher again
after a little pullback
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UNG
Posted by coolhat on 23rd of Mar 2011 at 12:34 pm
any views on nat gas (UNG) in particular?
Strong...
Posted by lessarda on 23rd of Mar 2011 at 12:47 pm
Bought Apr10 calls when it cleared and held above the 20 day last week; closed above the 50 day yesterday. Volume waning since the 14th; RSI strong & approaching 70; 14,3 stochastic may be rolling over on the daily; could pull back after this run; maybe come back to test the 50.
yes Natural gas has looked
Posted by matt on 23rd of Mar 2011 at 12:44 pm
yes Natural gas has looked pretty good for a while for a bounce as the 15 min and 60 min charts were constructive. However it's just that most of us here hate the way that UNG trades and degrades over time.
Here's a longer term chart, long term resistance is the trendline.
in the short term the best time to buy it was last week, otherwise it's getting a little overbought on the 60 min chart and there is a gap to fill right here where it might find some initial resistance. Otherwise for now the volume patterns are good on the daily and 60 min chart, so I favor that it goes higher again after a little pullback