Natural Gas Transitioning from Bear to Bull?
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If I was waiting for upside confirmation to imbue the post-inventory rally with additional "bullish" information, well I certainly can't complain now. In the aftermath of otherwise disappointing and negative inventory data yesterday morning at this time, natural gas and the ProShares Ultra DJ-UBS Natural Gas (BOIL) are higher than yesterday morning's pre-data high.
Yes, this is starting to act like a market well into transition from bear to bull. Next target zone in BOIL is 51.50-52.50, which if hurdled should unleash upside continuation towards 55.00-56.00.
