Boston, MA 07\/10\/2013 (wallstreetpr) –\u00a0United States Natural Gas Fund, LP (NYSEARCA:UNG) shares closed at $19.41, down by 1.62%. This is somewhat midway of its 52-week price range of $17.38 – $24.09.<\/p>\n
This has been after the shares broke down below the 200-day moving average for a few days, after which it has now rallied off the lows and closed above the 200-day MA yesterday. If it manages to hold the current position of being above the 200-day moving average, it will reflect a bullish double bottom pattern. If this happens, the first higher swing low which was recorded at or above $21 could provide a low entry risk point for partial size to its investors.<\/p>\n
Traditionally, in a conventional double bottom, both lows tend to be equal. However, it is to be noticed that investors should pick that trade which reflects stock\/ETF to undercut the prior swing low and then reverses higher. This is necessary as the required prior swinging low generally scares away the most longs and triggers a ton of sell stops.<\/p>\n
Now, this pattern is possible with the price action recovering quickly above the prior swing low, i.e. $21. However, if shares of UNG stays below $21 for too long time, then it will no longer be considered a shakeout. It will then be an ETF which is simply making lower highs and lower lows (a downtrend).<\/p>\n
Also, June has been a rough month for commodity investors across the board. A strong dollar clubbed with reports of Fed easing helped to dull the natural resources demand, pushing commodity ETFs to report a fall in price. The natural gas segment suffered not only because of broad market factors, but also for reasons specific to the particular industry.<\/p>\n
However, as compare to UNG, its rival Unites States 12 Month Natural Gas ETF (NYSEARCA:UNL) loss a little less then UNG, but still plummeted by 14.8%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/10\/2013 (wallstreetpr) –\u00a0United States Natural Gas Fund, LP (NYSEARCA:UNG) shares closed at $19.41, down by 1.62%. This is somewhat midway of its 52-week […]<\/p>\n","protected":false},"author":9,"featured_media":8428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2840,2839],"stock_ticker":[],"class_list":["post-8427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysearcaung","tag-united-states-natural-gas-fund-lp-nysearcaung","entry"],"acf":[],"yoast_head":"\n