UNG Charts

These are the charts that are behind the earlier UNG call position posted today...

UNG under the range, this is a common area for a head fake move, even to shake out new shorts. It will likely take a little time before we know if this is a long head fake move or a short shakeout being the range was so well defined, the daily chart suggests this is a shakeout of new shorts before continuing to a lower low.

 Intraday charts oddly go very positive as soon as Q2 window dressing is over.

3 min chart with the same window dressing effect, we've seen a lot of this.

5 min chart looks ready to go on an upside move which should move to the $24 area to shakeout new shorts.

15 min chart, so there's pretty good support for this move.

As well as a 30 min chart

And the 60 min shows the negative divegrence sending UNG below the range and some accumulation since.

We'll see how it acts on a move up, that will tell us a lot about the longer term direction.