UNG Update

Last week UNG started coming around, I still like UNG as a longer term position, I do NOT view UNG as a trading position although we have traded in an out of it several times to avoid drops like the last one, I believe we moved out of the UNG long in 2 parts around mid and late April.

Recently UNG started looking good again as a longer term long position, here are the charts today, there's some loose intraday short term charts, but the recent bottom looks solid and there's nothing that would pull me out of UNG right now (as I said, I don't think it's a great trading position.

 Our DeMark-Inspired "Buy/Sell" indicator with a recent buy signal at the bottom.

 Intraday charts are largely in line, there are a few that are a little sloppy, but I don't think they'll start a trend.

The 5 min chart with a question market because the current 3C reading "would " be a slight negative if 3C had turned down and locked in a pivot which it hasn't yet. Even with that, the accumulation phase is much larger.

The 10 min from in line to leading positive

The 15 min leading positive as well

The 30 min leading positive

And the area of distribution where we got out in a phased exit, the first day was at the highs. Then an in line reading and a recent positive reading.

All in all I like UNG here, I like to have a little long exposure and this seems like a nice long term position to get that in.