Breakout Of Natural Gas ETF Fuelled By Seasonal Strength
Chris Kimble | Sep 16, 2021 04:07PM ET
Just two weeks ago, I shared a breakout setup for natural gas and wondered, “Is it time for natural gas ETF to head much higher?”
That question is being answered this week, as the United States Natural Gas Fund (NYSE:UNG) has surged and broken out to new multi-week highs.
Today’s weekly chart is a follow up to our recent article. As you can see in this chart from , UNG is breaking out from its three-year falling channel at (1).
As mentioned two weeks ago (with UNG trading at $16), natural gas has historically rallied 16% during its September window. UNG is now trading at $20, or up 25% since the post of two weeks ago.
And by the looks of this chart, UNG could be headed higher yet. Stay tuned.
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