Anticipating a Top in Natural Gas - Mid-Day Minute for Wed May 7th 2008

May 07

Anticipating a Top in Natural Gas

by Mike Paulenoff, Wed May 7th, 2008

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Anticipating a Top in Natural Gas
By Mike Paulenoff, www.MPTrader.com

Please Note: This will be the last Mid-Day Minute until Monday May 12 as Mike is away on Thurs & Fri May 8-9.

I am anticipating the establishment of a meaningful top in the U.S. Natural Gas Fund ETF (AMEX: UNG) in the vicinity of 53.00-55.00 in the upcoming days/weeks. Both my pattern and momentum work indicate that such a top is in development at this time, but that does not preclude the UNG from climbing to marginal new highs above 55.06 during the process.

Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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