Twitter Ticker ($UNG)
Interest in natural gas continues to bubble on StockTwits, but as Brian Shannon likes to say, bottoming is a process, not an event. Nevertheless, momentum appears to be reversing as the downtrend that started in July 08 begins to flatten.
A low volume move below 12.87 would really flush out the remaining longs and pave a way for a new bull market. Only time will tell.
UNG remains in a primary downtrend below a declining 20sma, so expect a bumpy ride and adjust your position size accordingly.