Crude Headlines; Natty Baselines

Amid more shock-and-awe in the energy sector, be with crude oil getting throttled again with some bankruptcies from debt-ridden players in the space still very much a distinct threat, we do have an impressive red-to-green move in natural gas today.

With summer air conditioning season coming up, the UNG ETF daily chart, below, at least offers a baseline of support on this reversal off of which to key. A move over $14.50 is ultimately necessary to sustain a fresh breakout. But holding this morning's lows just above $12 provides an excellent baseline measurement for support going forward.