Loading ...UNG (for Steins1)
A little Chartology Debate on the Nat Gas Chart
I am in DGAZ for the following reasons
1…50dma
2…Possible H and S Top
3….Possible halfway pattern (expanding 4 point rectangle )…Rambus has shown that a high % of these patterns are continuation vs reversal patterns
ie…the trend is down
4….Horizontal Resistance zone (perhaps a gap fill a little higher (22.50)
and most of all
5… Reverse Symmetry
I see Your reasoning to be bullish is based on all the indicators which are pointing up
anything else ?
Fully
Macd, Psar and Histo………….Plus that glaring double bottom!
You see a double bottom and I see a point 1 and 3 of a continuation pattern
I guess that’s what makes a market
BTW, it’s UGAZ that I’ve been trading.
AND, further, China is to become then biggest producer of NG powered cars. Russia just signed an export deal with them and the US is looking to capitalize too.
The last thing, I predict it’s going to be one hell of an ass freezing winter1 LOL!
If you lived close enough, I’d bet you a car wash!
UGAZ is based on UNG
The rest of that stuff is Opinion
as Matrix says…we don’t trade opinions …and the facts are in the charts
Anyhow Nat Gas is a beast…it is very unpredictable as you know
I only take small positions
Good Luck Steins
I’ll see your car wash and raise you an extraction
🙂
Ironically, both of the guys that crew on my boat are in the gas business. They confirmed that there is a lot going on to increase exports as we have an abundance.
I actually sold *everything* I had last Friday before the long weekend.
Thanks
You’d have me do an extraction on you if I lost!?
I don’t think *I* could stand it, much less you.
LOL
Where are you located ?
Nice trade btw….
Hey guys – long-term demand growth is “the key” (emphasis on LONG-TERM). Right here and now there is still a surplus (Glut) short-term and all the shale oil & gas plays are producing gas and “other” light-end products literally flooding the markets (US eases export restrictions on condensate because of this over-supply)!
Follow the “Price Trend-Line”:
http://stockcharts.com/h-sc/ui?s=$NATGAS&p=M&st=1990-01-01&en=2014-12-31&id=p64063991652&a=259871894
Short-Term – I’m in for the “swing” here only – then I will get more bullish, FWIW:
http://stockcharts.com/h-sc/ui?s=$NATGAS&p=D&yr=0&mn=11&dy=0&id=p60219420177&a=345922273
MACD needs to breach zero to reinforce the “bull” case intermediate/longer term…
Sorry, went to bed. Bainbridge Is, near Seattle, Plungers stomping ground.
Yes, EagleS, though it had not crossed I had jumped the gun early like our gun slinger taught us, Rambo style.
But sold everything Friday and may go back in if it does indeed cross. Thanks