Natural gas is completing a breakout this week after breaking out above resistance at $2.75.
Natural gas is completing a Stage 2 breakout this week after breaking out above resistance at $2.75. Volume continues to pour into all instruments related to natural gas, including UGAZ, UNG, and BOIL. UGAZ looks set to do a second week in a row of 3x weekly volume.
I have increased my position in UGAZ and am looking to buy more if we can get a pullback back to $2.75, which may or may not happen.
I am long UGAZ.
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