UNG Update

I'm getting a lot of emails about UNG status updates so I'll just post them here. As many of you know, UNG is one of the few LONG TERM longs I like, but I view this as a long term trade.

As for my near term view, much like the market I expect a pullback, I'll be watching for accumulation in to that pullback to give us an idea of when the next swing move up may start.

 UNG daily chart shows 2 Harami Candlestick reversals (Japanese call it "baby in mother) in the west we cal it an inside day)-there is no price target with a Harami reversal, just that the current trend is likely to see a change (usually near term), both marked with yellow arrows, the red arrow appears to be confirmation of this pullback signal.

 The longer term view -30 min chart ) is quite positive with a leading positive divergence

 The 5 min chart is also in leading positive position

 a close up of the 5 min chart shows a negative divergence, this suggests the pullback I mentioned.

 The 2 min chart also shows the negative divergence-keep in mind these are short term timeframes and I believe they represent a simple pullback.

The 1 min chart has stayed relatively positive, this suggests the lower prices are under accumulation. I don't think the pullback is done, but it appears to be healthy thus far