Friday, February 27, 2009

Does Natural Gas Follow Oils Price? Looking At The UNG and USO, This Trader Says YES!





It does appear once again that natural gas is following oil. Note the charts above of the massive move I called on oil just a week ago. See call here. I have noticed a correlation often between natural gas (UNG) and oil (USO). It seems that approximately 3-5 trading days following a strong up move in oil (USO), natural gas starts to follow (UNG). Note thet 60 minute chart above showing this perfectly as natural gas has caught a huge bid today.

No comments:

Post a Comment