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.

Redux in Natural Gas Inventory Propels Prices

Today's larger than expected draw-down in United States Natural Gas (UNG) inventories spiked the price structure above a near 3-year resistance line, now at 3.851.

The ability of natural gas to sustain and to close above the trendline should be viewed as a potentially significant technical "event," that projects considerably higher prices in the days and weeks ahead.

From the enclosed big picture perspective, my next optimal target zone is 4.100-4.150. Only a decline back beneath 3.850 will compromise and delay my current constructive outlook.

  • 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!