$UNG starting to accumulate a position. Swing Trade

٢ مايو

Building a position in unleveraged natural gas UNG in $13-14's

Divergence on price/RSI.
Falling Wedge
Would like to see price get over and hold above daily 50MA
Will likely update once that is achieved

After 50MA is achieved and held, breakout the wedge and target the 200MA daily for profit.

Add on down days and be very patient with this one

٣ مايو

ملاحظة

50MA achieved
Hold above 15.30
Hopefully we get some fireworks on the wedge breakout 🚀
UNG

١٥ مايو

ملاحظة

Holding strong above 50MA
Wedge breakout grinding up
Up over 20% took some profits
Be cautious for a pullback to 50MA . Will load up if it does
Maybe it just keeps marching up, we will probably have resistance at the last local high $17.96
Many possibilities. I was far more confident when this idea was first posted now 25% higher its tough to be as confident.
I like the 200MA daily for a target still but I'd say there's high probability there's major chop on the way up to it. Take some profits, be patient, be happy

١٨ مايو

ملاحظة

Nice day for natural gas today. Took another 1/3 off the original position today.
1/3 position remains still targeting 200MA on daily but expect some choppiness especially after the big push

٢٣ مايو

ملاحظة

UNG reached opened at daily 200MA this morning 5/23/2024 $21.61.
It has rejected so far and is down to $20.57.
I sold the remainder of the position as planned here at daily 200MA.
Final sells were in the money + 51%

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