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).
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.
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).
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