Natural Gas Takes Off

Mid-Day Minute for Thu July 22nd 2010
by Mike Paulenoff, www.MPTrader.com

Be alerted when Mike posts an article

Ahead of natural gas inventory data at 10:30am ET, the U.S. Natural Gas Fund ETF (UNG) has rocketed from 7.60 above key near-term resistance at 7.78/80 in what looks like a bullish surge out of its week-long consolidation area.

If the inventory data does not reverse this surge (weather-induced strength), then the pattern argues for upside continuation to 8.10/20 next.

Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions. Sign up for a Free 15-day trial to Mike's ETF & Stock Trading Diary.

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