Radar/Study – UNG

January 5, 2012
By

Natural Gas has been in a severe bear market since mid-2008.  A possible 3-4 day reversal pattern is in place, with a hook forming today (although not pretty).  On 55-minute it’s pulling back into the heart of the reversal, and could be a good risk/reward long setup.

UNG could be good setup for long-side scalping short term trading.  Also, if UNG 135-minute can break through ATR and 50-ma, it could provide a possible intermediate-term setup:

QNG 55-Minute

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