TradablePatterns
Long

Natural Gas Weekly/Daily Charts Aligning Bullishly

NYMEX:NG1!   Natural Gas Futures
For the first time since I've added NG             to my watchlist two months back, its weekly and daily charts are pointing bullishly. NG             has been testing a 2yr plus uptrend support over the last few months, and is flirting just above it currently ahead of tomorrow's inventory figures. Weekly RSI , Stochastics and MACD are all turning up. For those who've never traded NG             , be cautious as volatility will spike tomorrow around the release of inventory numbers and may present a false (or legitimate) break below this rising support line. Visit http://goo.gl/NTXHtX for today's technical analysis on $NG_F, $ZC_F, $USDJPY             , $VIX_F, $NQ_F, $NFLX, $TSLA, $ES_F, $USDX, $EURUSD, $EURCHF, $CT_F

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What do you think about UNG (United States Natural Gas Fund L.P.)? Is it bullish too?
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Yes, UNG correlates well with NG, and is looking equally bullish for the next few weeks. The only caution once again apart from inventory tonight is that the monthly chart suggests NG/UNG vulnerable to downside following any near-term rally, with the 61.8% FIB support in my attached chart as a potential downside risk target.
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