UNG rising in the cold of winter
AS shown on a 4H chart, UNG which tracks natural gas futures has been rising now for three
weeks with the typical demand of the winter months and the cold weather impacting new
supplies while Russia's war continues. Volumes are relatively high while dual TF ( 4H and
1Week) crossed the 50 line on December 28. Price has now crossed over the Fib -.5 line
of the downtrend from October and has that line and the anchored intermediate term
VWAP for support and the setting of a stop loss ( strength in confluence)
I see this as a setup for a long swing trade of UNG or BOIL or XNGUSD on forex or any of the gas
companies ( LNG) to trade commodities while the equity markets get sorted out.
weeks with the typical demand of the winter months and the cold weather impacting new
supplies while Russia's war continues. Volumes are relatively high while dual TF ( 4H and
1Week) crossed the 50 line on December 28. Price has now crossed over the Fib -.5 line
of the downtrend from October and has that line and the anchored intermediate term
VWAP for support and the setting of a stop loss ( strength in confluence)
I see this as a setup for a long swing trade of UNG or BOIL or XNGUSD on forex or any of the gas
companies ( LNG) to trade commodities while the equity markets get sorted out.
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