A Monster Coming Out of the Gap

Natural gas, specifically UGAZ (the triple-long ETF derived from UNG, the straight-up ETF) has, fortunately, been a monster for me each of the past two weeks. 

At issue is whether three times will be a charm to conclude the month of February. 

In a blog post yesterday, we looked at the shorter-term 30-minute timeframe, updated below, for UNG. 

Note the gap-fill we observed yesterday, as being a key place to see whether buyers show up, once again. Thus far today, that seems to be the case, despite the slight undershoot yesterday. And therefore UGAZ is back in play for me. 

At a minimum, I would look for UNG to clear $14.90 to consider a trigger for UGAZ.