UNG: Weekly Chart Uptrend To follow up on my post
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UNG: Weekly Chart Uptrend
To follow up on my post earlier this morning, here is a chart on the nat gas etf UNG. I was trading this ETF actively earlier this year and have been watching for a trend to get put in place.
Take a look at the weekly chart. There is a channel off of the low and the 20 WMA crossed over the 50 WMA with price trading above it. The play here for me is to watch for a severe retest of the support lines in the weeks/months to come because I believe that the markets will be seeing a sell off soon and it will give me some once in a life time entries on nat gas plays either through UNG or through some stocks.
In addition, I am going to be making a trip to all the liquifaction plant areas and towns towards the end of the year. Why? There's secondary plays for me in terms of real estate, restaurants, hotels, etc in the region that is about to be the epicenter of a nat gas boom for the next 20-30 years. Heck, if I could find Taco Bell franchise owners in these areas that are looking for equity partners to secure SBA loans to expand their business, that could be a multi bagger return over the years to come.
[IMG]http://i.imgur.com/a8Ef0.png[/IMG]
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