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Constructive Pattern for Natural Gas ETF


Friday September 5th, 2008
Constructive Pattern for Natural Gas ETF
by Mike Paulenoff www.MPTrader.com
Constructive Pattern for Natural Gas ETF
By Mike Paulenoff, www.MPTrader.com

The U.S. Natural Gas ETF (AMEX: UNG) has come off its recovery high this morning at 34.54. The pattern carved out from yesterday's new corrective low at 32.30 is very constructive and argues for still more strength. The anticipated next upleg should hurdle key near-term resistance at 34.50/55 on the way to 36.50.

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