Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Charts from post 3454 still relevant as well as commentary below. Yesterday NG closed above the 50ma but just below $2.85 resistance. Lots of shorts in NG currently could be start of a short covering rally. The wx is warming and production is still strong, Frac log is extensive, but rig counts are continuing to drop. Playing the small trading ranges has been profitable vs swinging for the fences.

dude iligence Thursday, 03/05/15 05:56:32 PM
Re: dude iligence post# 3454
Post # of 3635
Charts from post 3454 still very relevant to current NG/UGAZ action chart 1

NG rallied up to $2.86 just shy of the descending 50ma $2.87 today can't get above it closing at $2.83.

chart 2
UGAZ broke above $3 resistance support line closing above it

chart 3

Former important NG $2.85 support is currently still resistance

chart 4

It still right there in black and white NG $2.85 is the line in the sand