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United States Natural Gas Fund LPUnited States Natural Gas Fund LPUnited States Natural Gas Fund LP

United States Natural Gas Fund LP

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UNG trade ideas

$UNG bounce here back to the neckline. 60-70% upside potentialWhile I shared a previous idea of UNG falling all the way to $2 (and while I still think that's possible over the course of this year), I'm never one to pass up a good counter trend trade. Idea here: I think $UNG is bottoming here. This would setup a counter trend rally back to retest the H&S neckline it broke down from $17-18 range. There's 60%-70% upside in this trade should it materialize over the coming months. The first thing I'd watch for is a reversal in price action and then you can jump in. I set an alert for this price level and when my alerts hit, I jump into the trade. I'm in from $10.36. Let's see how it materializes over the coming weeks/months.
AMEX:UNGLong
by benjihyam
2
head and sholdersIn my analysis, I have identified that the natural gas market appears to have formed a head and shoulders pattern. This is a technical chart pattern that is often used to predict a reversal in the trend of an asset. The pattern is formed by three distinct peaks, with the middle peak (the "head") being the highest and the two other peaks (the "shoulders") being lower. The "neckline" of the pattern is determined by connecting the lows of the two shoulders. In this case, I have identified the head of the pattern to have occurred on August 22nd, 2022, when the price of natural gas reached $34.50. The right shoulder of the pattern occurred on December 28th, 2022, with the price reaching around $17. Based on this pattern, I am predicting that the price of natural gas will drop to around $4.20. This prediction is based on the idea that the head and shoulders pattern is a bearish reversal pattern, indicating that the price will move in the opposite direction of the previous trend. It is important to note that this is a prediction and not a guarantee of future performance.
AMEX:UNGShort
by PetrifiedForrest
Trade Idea: Buy UNG ETFThose (c) who participated in the previous buy/long idea where rewarded with the ETF reaching the target and a +24.5% ungeared return in just under 5 weeks. The underlying commodity has since declined significantly and, in my view, offers another opportunity to buy off ''near oversold' levels (via the UNG ETF which is available to trade and offers exposure). The UNG ETF is down by over 55% from it's November swing highs and down by close to 70% from it's August highs. It also trades at 2x it's mean over 200 days (not shown) and is extended well below it's 200-day simple moving average. The ETF has also tested and surpassed it's December 2021 swing lows which could be a false breakdown. In addition, the price is testing the prior breakout level. On this basis, the price appears to trading in an oversold range and may offer an attractive reward-to-risk over the medium term. To account for elevated volatility, my recommended stop-loss is slightly wider than usual. Note that the price may trade lower before consolidating and potentially developing a bullish reversal. Upside gaps at $13.95 and $15.29 could act as potential targets.
AMEX:UNGLong
by techpers
Natural Gas Dream Chart Pattern LongThis is a Dream chart pattern to be found. Multiple confluences of patterns and support lines intercepting at the same place. You can see that there is a huge bottom support line intersecting with a down sloping support line. On top of this, we have a reversal pin bar on today's chart and the completion of a bear flag. This is a 80% probability of success pattern. This is a Gold mine finding. I'm so confident on this pattern that I will be risking 50% of my portfolio. NOTE: This is not a financial advice. This is my on trading and how much risk tolerance I can take. You should only risk the money you can afford to lose. Happy trading.
AMEX:UNGLong
by ppatrading101
3
UNG: Best guess of what is next for natural gas. We did get a bounce up in natural gas after my first post on October 23rd. (see link below if interested). Price rose just enough to close the closest gap. In the hourly chart this was followed by a .78 correction. It may move lower in Monday to closes the small gap below the current price but sometimes starting gaps are not closed right away. If Monday goes up I would think it is likely the next higher gap would get closed. On the daily chart I used the daily RSI (using the positive reversal) to determine a possible target if the rally continues. When using the RSI remember it is determined by the closing price. As always: act on your own analysis. But I hope this is helpful. Have a great weekend.
AMEX:UNGLong
by goodguy
deep accumulation as supply is offloadedthe fed has quietly halted bottom line reductions of the balance sheet, markets should rally leading into the holiday season and then tank once again. Energy commodities are experiencing more supply than usual leading into the winter. This is necessary in the current economic conditions to prevent civil unrest and casualties in colder climates. Speculation that supply is being subsidized. Bullish for companies that rely on cheap natural gas, bearish for gas price. Deep accumulation for 6 months or so, could shoot up at any time if the supply flow is reduced. Hard to trade. Have calls but looking to exit.
AMEX:UNG
by UltraXBT
$UNG: Next leg up in Nat Gas pricesI think we may see a rapid advance in Nat Gas here, the technical setup in $UNG paves the way for a 18.4:1 reward to risk potential trade. I'm long equity here, but you could trade this with options, or an equivalent fund in the EU or UK (if you're EU based). Futures or options on futures are also an option, but more complicated to execute with maximum efficiency. I suggest you explore this if you're more experienced, and able to determine which strategy to use to maximize RR and performance vs capital allocated to this idea. Best of luck, Ivan Labrie.
AMEX:UNGLong
by IvanLabrie
6