Recent trends “created somewhat of a reversal in natural gas, and that will likely continue into 2018. This comes as the U.S. exports more natural gas,” according to CNBC, citing McDonald. “A forecasted cold stretch could buoy prices into January. Markets appear to be waking up to expected natural gas inventory drawdowns.”
UNG is up about 16% over just the past week, but the ETF remains more than 35% below its 52-week and still resides below its 200-day moving average.
Leveraged plays on natural gas futures include the VelocityShares 3x Long Natural Gas ETN (NYSEArca: UGAZ) and the double-leveraged ProShares Ultra Bloomberg Natural Gas (NYSEArca: BOIL).
For more information on the natgas market, visit our natural gas category.