I like the reversal process in UNG, I like the divergence, the only thing we haven't seen is a head fake move so I'm going to open half a normal size position, I'll add the other half on a head fake/stop run below local support so long as there's a positive divegrence there which there should be.
I'll actually be opening the position in UGAZ, a 3x long leveraged ETF of UNG.
I'll follow up with some charts, but they haven't changed, only gotten better.
I expect at least a swing trade, but with the size of this base it wouldn't surprise me to see something a bit longer.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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