20Nov2:21 pmEST

Let's Get a Handle on This Wintry Weather

funny-Freud-joke-mug-coffee After selling UGAZ (triple-long natural gas ETF) yesterday for a nice win, I am back to stalking natty for another long entry based on the straight-up UNG ETF chart, seen below on the 30-minute timeframe. As you can see, natty is forming what can be deemed a bullish cup and handle chart pattern, with the rally to the highs earlier this month, followed by a pullback and basing out, then another rally into yesterday, before the pullback into today. This afternoon, however, we are seeing another surge by buyers. If UNG can take out $23.60 again I may hop back in. Either way, natty continues to see a strong underlying bid against a backdrop of what should be a cold winter. ____________________________________________ UNG

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