Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Nov chart roll Gap closed today
dude iligence Tuesday, 02/07/17 01:31:58 AM
Re: dude iligence post# 16277
Post #
16667
of 16744 Go
dude iligence Tuesday, 11/22/16 10:16:24 PM
Re: None
Post #
16277
of 16666 Go
$natgas tracking Jan gapped it well above $3. Thats one way to get above resistance. Pull back to test $3, and 50ma likely, this is the monthly contango bleed can be seen in the difference between Jan Dec chart

Dec 104k vol



Jan 109k vol


[img]http://stockcharts.com/c-sc/sc?s=%5ENGF17&p=D&b=5&g=0&i=0&r=1479870927322[img]



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Back in Nov NG was gapped up twice, once when the chart was rolled then when the contract rolled. NG is back to test the gaps and most likely the 200ma. Utility billed peaked in Jan, mild warm wx for next few months. All this sets NG up for a good "Its Gonna Be A Long Hot Summer Rally"