Monday, June 8, 2009

United States Natural Gas Technical Analysis

United States Natural Gas Fund has been in a saviour down trend in last couple months. Due to extreme over sold price, it could be ready to shoot up. This is a pure speculation trade, with no fundamentals to back up, you need to know that you like a tiny gold fish who jumped in the shark tank, they will swallow you in blink an eye, I would wait for big guys to find the bottom before I jump in.

Note that fundamentals do not support higher natural gas price, but it seems fundamentals do not matter to investors these days. The 12.70 is a very important support, if it does violate the support there is no reason to stay long. If it could move above 17.70 is very positive for natural gas in the weeks to come.