Natgas…UNG

Not for the feint of heart!

This is attempting an ORH day to the upside.

The low was a good enough low to hold, even though we were looking for
the lower Fibs @ 3.80 to initiate a Long.

The UNG ETF shows a similar pattern. This really needs a close over 21.75 for upside confirmation.
FYI..UNG has a notoriously bad tracking error so attention should be focused on the June Natgas Future. (NGEM)

Keep  this on your radar for end of day.

Surrogates trades would include ECA,CHK,DVN,CBI,LNG

130509_100552_CQG_IC_Chart_NGE_-_Natural_Gas_(Globex)_Daily_Continuation

130509_101611_CQG_IC_Chart_S_UNG_-_United_States_Natural_Gas_Fund_Daily

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