Tuesday, October 2, 2012

UNG Crosses a new threshold

For members who have been around a while, you probably remember when UNG was still trending down in price and we started paying attention to it, then it started moving sideways, there was a lot of volatility as there typically is in a base-like formation, but I viewed and still view UNG as a longer term, maybe even investment (never thought I'd say that) position.

Today UNG crosses a new threshold which seems to indicate to me that UNG has been under recent accumulation even up in this area (toward the top of the base).

This is a 4 hour (longest timeframe we look at before daily charts) leading positive divergence. This appears to have started leading yesterday afternoon.


No comments: