Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Constructive Technicals for Natural Gas ETF


Apart from its reverse split, which leaves us with half the number of shares at double the price, the overall technical condition and set-up in the U.S. Natural Gas Fund ETF (UNG) remain very constructive for near-term upside continuation towards 11.00 next.

First, however, the UNG must hurdle and sustain above yesterday's recovery high at 10.46, which will "lock in" Monday's all-time low at 9.98 as a very significant near-term low -- and possibly intermediate-term low as well.

Today's action is interesting if only because natural gas and the UNG are not participating in an otherwise weak session in the commodity complex. Do we sense downside exhaustion in the natural gas commodity sector? If that proves to be the case, then the entrenched giant short position in the UNG will blow apart the doorjam trying to exit the building.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!