Confirmation for me would be a breakout and close above the recent high on the weekly chart where I have drawn a horizontal blue trendline on the chart. This will have me interested in buying UNG for the intermediate term, and possibly buying long term call options known as “Leaps” to January, 2014 on UNG for a longer term play.
There may also be excellent “day trading” opportunities in the leveraged ETFs associated with Natural Gas such as ProShares Ultra Natural Gas (NYSEArca: BOIL) and Direxion Daily Natural Gas Related Bull 3x Shares (NYSEArca: GASL) for quite some time. Leveraged ETFs are designed for traders rather than long-term investors.
U.S. Natural Gas Fund
