United States Natural Gas Fund, LP is an exchange traded fund that is designed to track in percentage terms the movements of natural gas prices. UNG issues units that may be purchased and sold on the New York Stock Exchange (NYSE) Arca. The investment objective of USNG is for the changes in percentage terms of the units’ net asset value to reflect the changes in percentage terms of the price of natural gas delivered at the Henry Hub, Louisiana
Our Renko chart shows that a bullish pattern is developing here. This seems to be contradictory with this article:
As many as seven massive natural gas export terminals are expected to start up overseas this year, expanding worldwide capacity by 20 percent and flooding markets with new supplies of the key power plant and heating fuel. Dozens of new tankers capable of carrying natural gas in a liquefied form are slated to hit the seas.Just as these new supplies come on line, worldwide demand is expected to drop as the global recession deepens …
This is how the chart is looking:
Our Renko chart shows that a bullish pattern is developing here. This seems to be contradictory with this article:
As many as seven massive natural gas export terminals are expected to start up overseas this year, expanding worldwide capacity by 20 percent and flooding markets with new supplies of the key power plant and heating fuel. Dozens of new tankers capable of carrying natural gas in a liquefied form are slated to hit the seas.Just as these new supplies come on line, worldwide demand is expected to drop as the global recession deepens …
This is how the chart is looking:
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