For detailed analysis, please see our blog post published on 8/10/14 and feel free to post a comment there: www.syncubate.com/bl...ight-for-natural-gas
As can be seen from the daily chart, UNG has fallen from just over $26 a share near the end of June to just under $22 a share at the close of trading on Friday. From the high point of this trending move lower, UNG has had a nearly 20% drop in price.
The ADX line has since topped out and is dropping on the daily time frame, indicating that the trending move lower may have abated for the time being. This is further confirmed by the recent spike of +DMI above -DMI, as the bulls begin to stand their ground.
The MACD has also crossed above the signal line, which is another sign that a push higher in price by the bulls may be impending at this point.
As can be seen from the daily chart, UNG has fallen from just over $26 a share near the end of June to just under $22 a share at the close of trading on Friday. From the high point of this trending move lower, UNG has had a nearly 20% drop in price.
The ADX line has since topped out and is dropping on the daily time frame, indicating that the trending move lower may have abated for the time being. This is further confirmed by the recent spike of +DMI above -DMI, as the bulls begin to stand their ground.
The MACD has also crossed above the signal line, which is another sign that a push higher in price by the bulls may be impending at this point.