UNG made a lower low today. Big deal! It has been making lower lows for over a year. This one is a little different from the lower lows over the last couple of months. There is a clear five waves down since the 10/6/09 high. The fifth wave may not be complete, but if not, it should be near. Will this be the end to the long protracted down trend? We will have to see. One thing we can expect is a retracement of the move down from the 10/6/09 high. Volume has increased above the 50-day average in the last three trading days as the price has closed down each day. Todayâs volume was the highest. Could there be capitulation? Are bull traders finally throwing in the towel?
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yeah no kidding... "oh i only trade the uso etf, i dont look at the dollar or the actual futures" That is not TA, it's bullshit. But as long as you link that website of yours with every post. Dont worry, 1000 more posts and it will bump up your google rank by 1...
Almost no premium and 7 cents contago compared to 80 cents congao 6 months ago. Last weeks price action is very bullish. Time to trade and enjoy the ride. It can go to $13 in 2 months.