UNG continues to rise Long

United States Natural Gas Fund LPArca

Description

⋅ Jun 18, 2023 9:04 PM

UNG the ETF that tracks natural gas futures has continued on a significant uptrend since June

1st The 2H chart suggests to be that the trend will continue this upcoming week. UNG is now

above the POC line of the long multi-session volume profile. UNG has had support from the

VWAP line representing two standard deviations below the mean. In recent days, price has

crossed that mean VWAP in a sign of bullish momentum. The volatility oscillator indicator

is showing bullish volatility while the RSI is high above 80 and staying there without any fade

to suggest bearish divergence. Overall, I will continue to run my position without any partial

take profit. My target is the VWAP line that is two standard deviations above the mean

anchored VWAP and so presently about 7.85. Any new trade would have the same target

while setting the stop loss just below the POC line.

Trade active

⋅ Jun 20, 2023 7:31 AM

This an interesting video that is relevant to natural gas forecasting

youtube.com/watch?v=xWE8dpEh0QI

Trade active

⋅ Jun 21, 2023 8:51 PM

I got a nice daytrade from BOIL this morning netting 9% on the trade. It is a reverse split candidate for Friday and may be getting some eyes on from inexperienced
traders thinking they might 20X their money in the reverse split. Underlying spot
natural gas price went up 5% so perhaps it is simply a reflection of that.

Comments

AwesomeAvani

⋅ Jun 20, 2023 7:32 AM

youtube.com/watch?v=xWE8dpEh0QI