ETF
Gold ETF Chart Points Skyward
UNG Fund: Weekly Chart
United States Natural Gas Fund (UNG) continues to trend down and underperform the market. The last time UNG dropped to this level, we had a nice bounce, generating a 30% move in three weeks. But I don't think that will happen this time. The price has been sliding lower slowly on light volume. This type of price action is not as predictable when compared to others. I will wait for a proper setup before buying an oversold bounce or shorting after a bounce.
Commodity ETF Trading Conclusion
The weekly charts don't lie. Trade with the underlying weekly trend and you will put the odds in your favor. I use the daily chart and 30 minute intraday charts for timing my trades, as those time frames have proven to be very accurate with commodity ETF investments. We continue to hold our golden rocket stocks (Sacre-Coeur Minerals (SCM.V) and Animas Resources (ANI.V)) and GLD fund. If the market co-operates this week, we could get some trading signals for both Canadian and U.S. ETF funds.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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