Stock Technical indicators to notice in US NAT GAS FD ETF (UNG)
1- Last bullish trend was from 7.28 $ (7/14/2010) to 8.26 $ (7/30/2010) a 0.98 $ move 2- The current bearish trend started from 8.26 $ at 7/30/2010 and is currently trading at 6.38 $.
US NAT GAS FD ETF (UNG) Short term stock chart patterns for internet stock trading :
None.
US NAT GAS FD ETF (UNG) Mid term stock chart patterns for internet stock trading :
4- The Stock formed a 1.850 $ height triangle which was broken down at 7.300 in higher than usual volume, target of the pattern is 5.450.
US NAT GAS FD ETF (UNG) Long term stock chart patterns for internet stock trading :
5- The Stock formed a 2.020 $ height triangle which was broken down at 7.300 in higher than usual volume, target of the pattern is 5.280.
Stock Trading Conclusion:
US NAT GAS FD ETF (UNG) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 6.82, 7.10, 7.32, 7.54, 7.57, 7.62, 8.26.
Stock Support levels : 5.45,.