UNG after incredible run has spent this past month in a very tight consolidation. the range started of wide but now has been getting tighter and tighter over the course of the last week. There are very few spots of momentum in this market right now.
Things I like about UNG right now.
One of the last spots of momentum in the ...
Nobody believes in this nat gas rally. If you take a step back you can see a long multimonth base and now the formation of a bullish symmetrical triangle which is a continuation pattern for higher prices
The major activity in natural gas, especially over the past 2 weeks presented an opportunity to make a bullish-neutral bet.
31/32/42/43 JAN19 IRON CONDOR @ 0.73 CREDIT
Roll if necessary & if possible to reduce risk.
Target maximum profit, unless significant profit appears early.
Comment or direct message for discussion, or on other interesting ...
Max Profit on Setup: 3.00
Max Loss/Buying Power Effect on Setup: 6.00
Break Even: 26 versus 26.06 spot
Debit Paid to Spread Width Ratio: 67%
Delta: -48.42 (bearish assumption)
Notes: In an ideal world, there would be a December expiry currently available for the front month leg (there will be one after October drops off) and a price in the 28 ...
Over the last 2 months, UNG has dropped from the $24 level, down to $22 and now it's back up to $24. In the last week, we can see the price consolidating at the $24-$24.50 range and is looking to pop higher.
Next level of resistance is at $27, which is a range of ~13%.
The C&H can be seen on both price, RSI and Stochs. Keep an eye on this, if RSI starts to ...
$UNG $UGAZ is pulling back right at 61.8% Fibonacci level. As you may know, 61.8% Fib is my bread and butter trade! This is, to me, a perfect opportunity to get in NatGas going in December! Goodluck everyone!
UNG fund bouncing from weekly support....nat gas bulls r back just in time ...with colder weather forecast for weekend and next week in the WEST, South and Central US nat gas demand cud shoot up any time and with lower inventories if any can see the price soar high.