Tuesday, December 16, 2014

Quick Look @ UNG

I still like UNG/UGAZ (3x long natural gas) in the area, which looks to be a basing area meant to gather a head of steam for a breakout that will stick or to accumulate a larger position.

Form long term highest probability to short term, timing charts and in between.
 60 min

15 min basing area

3 min trend at the basing area

Intraday, it looks like the lows at the white trend line are an accumulation zone with higher prices being pushed back to the accumulation zone, this looks like a fairly positive short term timing chart, although leading would be more interesting. Still holding UGAZ 3x long NG.

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