Pin Action off Natty

With natural gas surging again, Chesapeake Energy is finding buyers where right it needs to.

On the CHK daily chart, below, the producer of natural gas is trying to hold onto it triangle consolidation support trend, highlighted in light blue. A few other natural gas plays are rallying today, well, defying the broad market sell-off. It is also impressive to see crude oil and indeed many energy stocks as a whole hold up well today. 

But regarding CHK and natty, if the breakout in UNG continues to play out it is hard not to view it as a viable long idea. 

More about the market in my usual Midday Video for Members.