Thursday, July 31, 2014

UNG Chart Follow Up

There actually has been a lot of improvement in the UNG charts, in fact all the way out to a 60 min leading positive divergence.

 The daily chart shows the reversal process is just about the right size as they tend to be proportional to the preceding trend.

10 min leading positive

And a 60 min leading positive (there are numerous other timeframes, these are the most important for a swing trade and longer.

This is what I'd still like to see, a dip to run stops with a positive divergence, I'd add the rest of the position if that were to happen, but with a leading 60 min chart I didn't want to wait too much longer.

Maybe the 10:30 inventories will do it for us?

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