So You Think It's Time to Buy UNG? Let's go to The Chart!

In all of my years of trading I have never seen so much attention given to natural gas by the retail investor. Nat gas has been trading at historic low prices recently so it must be ready to skyrocket, right? Well for you traders out there that like me are old enough to remember the sugar market of many years ago, you have to admit natural gas and especially UNG is starting to show some similarities.

So where is UNG headed? Let's see what our MarketClub tools tell us....

UNG Smart Scan Chart Analysis is showing a downtrend with Up arrow, meaning there is some near term rallying power. However, this market remains in the confines of a longer term downtrend Downtrend, trade with tight money management stops.

Based on a pre-defined weighted trend formula for chart analysis, UNG scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

-10.....Last Hour Close Below 5 hour Moving Average
-15.....New 3 Day Low on Thursday
-20.....Last Price Below 20 Day Moving Average
+25.....New 3 Week High, Week Ending October 3rd
-30.....New 3 Month Low in September
-75.....Total Score



Trend Analysis is a free service powered by MarketClub's Trade Triangle technology.

Join MarketClub today to get instant intraday analysis, Trade Triangle scans, as well as streaming charts of all of your favorite markets. What can a Triangle do for you? Find out here.