Yesterday the United States Natural Gas ETF, trading under the symbol PACF:UNG, triggered a new weekly green continuation Trade Triangle at $25.44.
What is interesting about this market is the fact that it has broken above a two-year base, which I believe is very significant longer-term. With the recent pullback from the highs of $27.64, we actually stopped at the previous highs that were set in October 2012 and again in May 2013. Technically, this market looks very good and I am going to layout my case with simple numbers you can tie into the chart.
Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Tuesday, the 11th of February.
What are they and why do they matter? Oftentimes bull and bear markets come to an end on a Tuesday, why is that? It all has to do with momentum. Typically a market builds up momentum over the weekend and that enthusiasm tends to carry over into Monday and early Tuesday trading. This is the same momentum rule I use for the "52-Week New Highs on a Friday" trading strategy.