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Correction in Natural Gas Complete?


The truth be told, I am very surprised so far today that natural gas has managed to bounce off of its corrective new low at 3.971 to 4.000. I am expecting natural gas to press a bit lower, into the 3.90-3.83 support/buy window prior to pivoting to the upside into a new upleg.

Be that as it may, however, if natural gas manages to climb above 4.07 on a sustained basis, I will be compelled to enter an initial new, long position at that time, thinking that the correction off of 4.44 is complete.

With the foregoing in mind, I remain on the sidelines, looking to enter a new long position in the United States Natural Gas (UNG) either below 21.25, or above 22.12.

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