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I loved your analysis on Nat Gas. If you look at UNG (the nat gas etf) a declining triangle has been visible for some time. I have also been expecting a bounce off of its current region (which would be number 3). I also feel that in the medium a breakdown will occur and UNG will decline to a support around $22.00. The curves between the two do look a little different though, so in the long term I feel it will continue to climb.
When Natgas was at 2 I thought it was the investment of the decade but I wasn't blogging back then. I still hold the same thought but of course no market goes in a straight line. Natgas may correct if the blue channel breaks down and I want to short it if that happens.
Then at some point I will invest in UNG or another ETF for good.
Great charts. Can you please include RUT as it's more volatile( Beta) and I guess lots trade IWM
ReplyDeleteThx
I loved your analysis on Nat Gas. If you look at UNG (the nat gas etf) a declining triangle has been visible for some time. I have also been expecting a bounce off of its current region (which would be number 3). I also feel that in the medium a breakdown will occur and UNG will decline to a support around $22.00. The curves between the two do look a little different though, so in the long term I feel it will continue to climb.
ReplyDeleteJust posted RUT chart on Twitter.
ReplyDeleteWhen Natgas was at 2 I thought it was the investment of the decade but I wasn't blogging back then. I still hold the same thought but of course no market goes in a straight line. Natgas may correct if the blue channel breaks down and I want to short it if that happens.
ReplyDeleteThen at some point I will invest in UNG or another ETF for good.
Thank you. I do think RUT breaks to new highs till 1240 or so by End of July before Q2 GDP/FOMC
ReplyDelete