UNG Update

This is one we have been watching for awhile as it has showed some very bullish signs, t's just been a matter of a tactical entry.

 UNG daily bullish descending wedge, these have been forming lateral bases lately after they pop out of the wedge rather then follow Technical Analysis textbook patterns and just breaking out to the upside. I believe this is an example of Wall Street using expectations of technical traders against them.

 The daily 3C chart has been VERY strong for a long time, showing this to be accumulation and a base that is much bigger then anything we have seen recently.

 UNG 60 min positive divergence

 30 min leading positive divergence

 15 min leading positive divergence

 10 mn positive divergence at the bottom-short term base.

The long term 2 min chart shows a new leading positive high. I believe UNG is very close if not at stage 2) mark up, which happens after an equity breaks out of a base.

I like UNG a lot in this area and would consider it a buy, however you must make sure to use risk management as always and allow for a wide stop as bases, like tops, can be very volatile.