View from the Bottom

It is truly impressive to see the extremely well-defined series of lows on the UNG, ETF for natural gas, seen below denoted by the light blue horizontal line stretching back several weeks. 

Clearly, buyers have staked their claim to defending those $13.60-ish lows. But have thus far failed to hold much progress above, too. 

Nonetheless, with the latest defense of that area, if bulls can push UNG over $14.23 and especially $14.30 today I may take a stab at a UGAZ long again for leverage. 

Elsewhere, USO is back to flat, following XLE down for now.

As for my open positions, they are a mixed bag, with X working for me on the long side, GILD going against me and my short, and the gold miners pausing. More on this later.