This morning’s slightly better than expected inventory data coupled with continued strength in the oil market has helped to propel the U.S. Natural Gas Fund ETF (NYSE: UNG) from 14.00 to 15.33, which has pierced the May-June resistance line at 15.20. At this juncture, the ability of the UNG to hold its gains above 15.00 will be considered very constructive action. If such proves to be the case, then I will be expecting the UNG to race towards a test of the June 2 high at 16.10 quickly, to complete an impressive near-term (double) bottom.
The Mid-Day Minute
Natural Gas Pierces Resistance
Fri, Jun 12 2009, 05:41 GMT
by
Mike Paulenoff
- MPTrader.com
|
View company's profile
About this Report
MPTrader.com
info@advicetrade.com
Archive
-
Apple Due for Profit-Taking
Fri, Feb 10 2012, 05:10 GMT
-
Big Cap Tech Stocks to Watch
Thu, Feb 9 2012, 04:57 GMT
-
Bullish Digestion for Gold, Euro
Tue, Feb 7 2012, 04:42 GMT
-
VECO on the Move
Mon, Feb 6 2012, 04:51 GMT
-
Promising Technical Set-Up for ORCL
Thu, Feb 2 2012, 05:03 GMT
Advertisement







