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.

Natural Gas Oversold

Natural Gas Oversold
By Mike Paulenoff, www.MPTrader.com

My near, intermediate, and longer-term work in the U.S. Natural Gas Fund ETF (NYSE: UNG) is so oversold and is screaming for a very powerful recovery rally period that should propel prices to a minimum of 20.00 and more than likely to 25.00 in the upcoming days/weeks. The enclosed chart pattern argues strongly that the most recent downleg from the 1/06 high at 25.98 ended this morning at a new bear market low of 15.48, and that a recovery rally period is in its initial stages. First target is 16.80, then 17.30, and then a test of the prior rally peak at 17.95 ... which if hurdled will trigger very significant near-term buy signals.

  • 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!