Thread by @TheMrDev

This yr on Twitter we've seen an increase in individuals who specialize in Natural Gas, some have included "#NatGas" in their profile names.
I'm sharing this thread 🧵to help distinguish between the guessing or lies by applying sound technical analysis & reasoning to $Ung & $BOIL

NatGas aka the WidowMaker isn't an island unaffected by overall Market Stress esp aftr showing more weakness since last November than any other commodity.
And now that Oil $cl $Wti has weakened as i Tweeted March 2 there's more pressure on energy overall.

Many "Fundamental" arguments have little or nothing to do with price aft a Market Correction.
$UNG #NATGAS $BOIL are not an exception.
In addition, they are not a good Long-Term Hold.
These should be Traded Short-Term and only with sound technical awareness and caution.

This $UNG Chart shows it started trading in 2007 & peaked in 2008 at a price adjusted $2038 just before the financial crises.
Ever since it's only moved lower until the small pop we traded from 2021- 2022.
$BOiL is not any different.

The same decline can be seen for $BOIL created in 2011 with a price adjust high of $39,760 +/-
Again the charts would say that they are built to go down until proven otherwise.
These Charts do not show any real signs of strength yet.
#natgas #energy

In the next #Natgas $Ung $Boil Thread, I'll focus more on the Trading Charts that take advantage of the short-term moves both up & down as $Kold is still in play up 10% today. Anything up +10% a day is still in play.