Replies to post #22560 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[DBS]

That would be wonderful. That's what I'm looking for...

[No-Quarter]

The Dec to Jan contango appears to be 5 cents, which is less than the 12 - 15 cents I recall from last months Nov to Dec contango.

https://www.cmegroup.com/trading/energy/natural-gas/natural-gas.html

Is their a better way to measure the magnitude or impact of contango than comparing Henry Hub contracts??

[dude iligence]

Last month the contango gap up sparked a short covering rally.

[dude iligence]

Jan NG high this morn $2.713 tagged the 50ma has pulled back now $2.687. IMO will trade sideways then close back near high preparing for a move above the Jan 50ma and into the gap above on the Natgas chart(second chart down).







NG resistance above can be seen in the big gap above. Last Friday we saw a similar set up on Friday as NG rallied into the gap above but unwound come Sunday night Monday morn. We had the pull back to $2.5 with the op to reload now its time for a second attempt. All we need is a colder weather forecast update between now and Sunday night.