Oh Really, You Trying to Get the Pipeline?

Within the commodity complex, much attention is typically focused on crude oil and precious metals. 

However, as we know, soft commodities have been incredibly hot on the while this year, even as the DBA ETF consolidates today. Sugar and soybeans have been particularly strong and part of the leadership in that space. 

But, beyond that, natural gas is taking baby steps more and more each time we revisit the technicals. It may seen beyond comprehension at this point, given how many times natty has broken bottom-fishing bulls' hearts. 

Nonetheless, the price action is tighter and much more constructive. We went long UNG on Friday and are betting on a 200-day moving average test (yellow line on daily chart for the ETF, below) before we reassess just how many more steps forward natty can possibly take. 

In addition, we are expanding our idea flow into natty-related equities, which I will update for Members today in my usual Midday Video.