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!