Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Sunday night NG had a sizable gap up due to an unexpected event when the fine fellows in the mideast blew up their neighbors petro plant. I talked about the gap up on Sunday night and to look for NG to test $2.65 for support.

NG gapped up .05+ tonight from Saudi production attack UGAZ should be up over $1.5 in the morning. Look for test of support at $2.65 resistance level.

It did yesterday and it did again this morning. Gap up while your trying to build a base for a rocket launch pad are not good so they need to be closed and fixed. That is what has been happening with the retest and back filling of the gap. NG was on a steady path to getting above the 200ma basing working steadily higher until the ITS GONNA BE A LONG COLD HARD WINTER RALLY gets underway.







That gap up came at the wrong time and that gap up is not kool so it needs to be tested for support. When the contract rolls and the chart rolls it may look different, like another coat of drywall mud has been applied to fill in then a bit of paint. Works like a charm.

The huge number of Evil shorters will play a big roll in the ITS GONNA BE A LONG COLD HARD WINTER RALLY. Right now they are confident they are holding the correct position in NG and its going to reverse. Some have covered and will take another short position slightly higher. When NG doesnt go down but goes up because of the coming Scary Dangerous Polar Vortex in a couple months fear and Panic will set in,then the Evil Shorters will be FORCED to cover, this is when NG prices go ballistic. They will be left with a suck Christmas and longs will rejoice and celebrate then become evil shorters for the drop. But right now that storm is a long ways off NG is focused on testing support building a solid launch pad for the Saturn V Rocket boosters.