This is a continuation of my 2020 bull rally theory, finding the best way of capitalizing on the potential opportunity in front of us is the next step.
UNG follows the price of natural gas fairly well, UNG does experience rolling decay when futures are in contago. Contago is typical for natural gas futures. Because of the rolling decay holding UNG long term is...
This chart is position planning based on the Daily Cycles Target and Countertrend Rally charts published last week.
Patiently waiting for this rally to fail.
UNG puts take advantage of the expected decay.
Enter on confirmed bearish hourly trend change.
extreme bullish reversal, exit if hourly down trend fails
bullish daily higher low, exit on hourly...
Colder and more snow than normal in the areas that drive demand, but is that enough to eat the surplus?
Support is holding @19.21, 9cent's below the daily setup trend @19.30
mostly negative to neutral
Inverted Hammer on an 8 downtrend = Bullish in a downtrend
Star Doji = Bullish in a downtrend
Gravestone Doji = Bullish in a...
Currently pulling back after testing top-trend / supply level. I'm watching $21.40 area to hold as support for another attempt at a break. The strong volume and indicator confirmation has me bullish, provided we stay above that. $21.40 area.