Pilobolus Equity Research: UNG (42) Natural gas ETF basing suggests breakout potential

Tuesday, February 12, 2008

UNG (42) Natural gas ETF basing suggests breakout potential

The Natural Gas ETF UNG (42) has been basing since June '07 and suggests upside breakout potential at these levels. After testing its lows once in Sept '07 and then again in December '07, price expansion appears to be approaching its previous $42-45 resistance areas. If a breakout occurs, look for upside price targets in the previous $52 area.

About Pilobolus Research

Seth F. Wolff
A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.

Disclaimer: Pilobolus Equity Research obtains information from sources deemed to be reliable; however, Pilobolus Equity Research does not guarantee the accuracy of any of the information or commentary provided. Pilobolus Equity Research makes no warranties, expressed or implied, as to the fitness of the information for any purpose, or to results obtained by individuals using the information. In no event shall Pilobolus Equity Research be liable for direct, indirect, or incidental damages resulting from the use of the information. Pilobolus Equity Research shall be indemnified and held harmless from any actions, claims, proceedings, or liabilities with respect to the information and its use.

Pilobolus Equity Research

Tuesday, February 12, 2008

UNG (42) Natural gas ETF basing suggests breakout potential

Pilobolus Global

Previous Posts

About Pilobolus Research

Index

Links

Crazyegg