Interesting, and thanks for posting. I got my ass handed
to me in a natgas trade made in Nov19 > Feb20. I have been
back in and sold UNG recently, though still holding a minor
position. In addition to the technical, there are
fundamentals that could also support the notion that NatGas will
continue to push higher. As always,a caution, there is also a
thesis that could see it test lows again (Apr 5 / 16 around
$1.50). Futures are currently continuing to support a move
higher at this time. As with so many different aspects of the
markets, unprecedented territory, have a plan, trade your plan.
The 2hr chart for UNG with 10EMA shows price bouncing nicely and
approaching the 200SMA with a recent cross of the 20SMA and 50SMA.
Watching closely tomorrow.
UNG observations
Posted by matt on 22nd of Apr 2020 at 02:41 pm
UNG - Chart Link
UNG - Chart Link - 60 min view, coil like pattern forming
Interesting, and thanks for posting.
Posted by tahoe on 22nd of Apr 2020 at 07:52 pm
Interesting, and thanks for posting. I got my ass handed to me in a natgas trade made in Nov19 > Feb20. I have been back in and sold UNG recently, though still holding a minor position. In addition to the technical, there are fundamentals that could also support the notion that NatGas will continue to push higher. As always,a caution, there is also a thesis that could see it test lows again (Apr 5 / 16 around $1.50). Futures are currently continuing to support a move higher at this time. As with so many different aspects of the markets, unprecedented territory, have a plan, trade your plan.
The 2hr chart for UNG
Posted by tahoe on 22nd of Apr 2020 at 09:35 pm
The 2hr chart for UNG with 10EMA shows price bouncing nicely and approaching the 200SMA with a recent cross of the 20SMA and 50SMA. Watching closely tomorrow.
Chart Link