EIA Nat Gas Report/UNG

Released On 10/25/2012 10:30:00 AM For wk10/19, 2012 Prior Actual Weekly Change 51 bcf 67 bcf

Highlights Natural gas in storage rose 67 billion cubic feet in the October 19 week to 3,843 bcf. An injection of 70 bcf was expected. This is a place I would consider adding a little to UNG, it seems it's seeing some accumulation on the EIA reaction which is also in head fake territory.  Here's the ascending triangle we talked about at the last update and a break below it's support which isn't surprising as a head fake move.  A look at UNG this morning on the EIA report...  The short term charts have gone in to leading positive divergences on the reaction from the EIA report. 1 min  2 min 3 min So far I like what I see, I'd like to see it continue, but if I needed to add to the position I would consider adding a little here, if the divergences keep building as only 40 minutes has gone by, I would add more.