Thursday, June 23, 2016

Natural Gas (UNG): Cup-And-Handle Forming?

With everything else going on in the world at the moment I thought it would be refreshing to show something different, Natural Gas (UNG). UNG has had a wonderful rise since the beginning of June, climbing about 33% in that time. After spending the preceding two months creating a nice bottoming pattern it appears that a cup-and-handle pattern has developed. We are currently in the handle stage with a sell signal appearing on the RSI(5) so once the RSI and stochastic indicators retrace a bit, UNG will be a very strong buy.