Replies to post #2021 on Stock Incubator

[dalcindo]

Watch for UNG:

I plotted UNG from a private request late last year. Indeed, the price continues to remain within the confines of that same down-trending channel.

Whereas DAILY data suggests that the price is testing 45-EMA once again with a predominant bearish bias per secondary indicators, the WEEKLY data is forming new BULLISH signals.

Going forward, watch for step-wise progression of WEEKLY RSI as it creeps back up slowly, but steadily to indicate a swelling shift of buyers relative to sellers. In price behavior terms, look for stead dissolution of the $7.7 overhead resistance.

OVERALL - Predominantly BEARISH; early, albeit unconfirmed reversal signals


UNG - 36-Mo., Weekly Chart:



UNG - 12-Mo., Daily



UNG - 2-Mo., 60-Min. Chart:



- Dalcindo