While equities may be tough to game in front of the Fed Meeting Announcement Wednesday afternoon, natural gas is back on my long radar for a snapback rally trade.
I am looking to play UGAZ, the triple-long ETF, if UNG (the straight-up ETF) clears $19.70 to the upside.
On the daily chart, below, you can see the falling channel breakout to the upside with the potential for a further bounce, even within the context of a new downtrend (if that is what this is).
Of course, there is also the possibility for a durable bottom in natty before the cold winter.
Drop me your top tickers overnight.
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Any thoughts on $HIG? Great EPS yesterday & chart is solid with a new 52 week high with above average volume…of course considering all the market news this week. Thanks!
Nice weekly chart breakout if it holds over $38 now.
indecision doji with a green bar confirmation today signals a buy for me.
Tend to agree
Thank you guys, much appreciated! Let’s see what the week brings it.
Since my favorite Biotech ETF (BIB) needs a break, I’ve been searching for something new that’s not topped out. I checked out UGAZ & decided to jump in this morning ….Great call !