Natural Gas Breakout or Fakeout?

July 16th, 2009

Equities were for the most part today moving sideways – a little up and a little down – but have since moved slightly higher. Oil in addition continues to slowly climb higher here. As for Natural Gas however, UNG is on a rampage today. Look at this huge white candle as it moved up over 8% this afternoon. A move to at least 15.00 seems pretty realistic at this point considering the inventory data that came out this morning. More on the trading video tonight!

 

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