Wednesday, October 12, 2016

Buy All Dips In Natural Gas (UNG)

Natural Gas ETF UNG made a critical breakthrough three days ago. On the expected pullback over the coming days it should stay above the support line of $9.08 and I am recommending buying any and all pullbacks. The EMA's look perfectly aligned at the moment with the point-and-figure chart showing an objective of $10.40 and volumes all clustered around the moving average (which it hasn't been for two months). You can have a really tight stop just below the support line should this trend change it's mind after the weekly natural gas report on Thursday.