UNG Update

I may add a little to UNG here...

 As you already probably know, UNG transitioned from a down trend to a lateral trend, hinting at a base. I have been of the opinion that the recent move below support , based on 3C readings has been a shakeout, there's no quicker way for Wall Street to accumulate shares then to get them on a shakeout as it doesn't raise suspicions as someone HAS to take the other side of the trade. Look at the volume since the move below support. While this is hardly a technical observation, I would note the Congressional plug that was slipped in for natural gas when Bernakacide was testifying before Congress, WHY IN THE WORLD WOULD A CONGRESSMAN PRESS BERNAKE ON NATURAL GAS AND ITS BENEFITS when Bernie has nothing to do with energy policy? However for financial types, it was like the Superbowl (as far as viewership) and the Congressman's plug, like a commercial during the Superbowl.

 Here's UNG today pressing resistance on a +3.24% move up today.

 Here it is intraday, again note the hammer candle and high volume was the basis for a reversal (that's just a mental note to put in your tool box). Volume near resistance is picking up.

 3C on a 10 min time frame is also positive and has the look of a bullish ascending triangle that wants to breakout.

Even the hourly timeframe went leading positive in 1 day.

Thus I may add to UNG in the area.