Energy Commodities Alert: Natural Gas Signaling Bullish Breakout

Posted on Posted in Commodities

The energy commodity, Natural Gas, has been trending downward since December-2016, but as of today the trend may be changing for both the futures contracts and its underlying exchange traded fund. The October-2017 contract cleared resistance above its 22-week average and is now looking to challenge resistance at the 55-week moving average. Meanwhile, the Natural Gas ETF (UNG) broke out to a new 3-month high. In either case, there is potential for more price appreciation and this situation warrants monitoring or serious consideration for a long position, especially on any pullbacks. (See charts below for technical analysis details.)

 

October-2017 Natural Gas Futures
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Natural Gas Exchange Traded Fund
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