Tuesday, June 05, 2012

Natural Gas - Where Do We Go From Here



Above is a daily chart of the ETF for Natural Gas, symbol UNG. As you can see last month's rally fizzled out right at resistance and now appears to be headed back down. You'll notice the volume has been increasing on the recent down leg and is now decreasing as the market attempts to rally. This in my opinion is a bearish sign and suggests that a retest of the April 19th low may be expected in the next few weeks.

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