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United States Natural Gas ETF Message Board

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  • redrobinw redrobinw May 17, 2012 11:59 PM Flag

    Important Question-Please Help

    Your upper chart is the spot price for the last 6 months, not the last 5 years.

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    • Well, the link may be for 6 months, it must not have updated the link--thanks to Java scripted chart.

      I am talking about the dates. Please feel free to adjust it to 5 years so you can see the dates in question. September 2009-Jan 2010.

      Thanks

    • I see what you mean on the five yr spot price chart. Is it because UNG reacts to the futures price not the spot price?
      I'm also curious about the references to the Fibonacci retracement. I tried to study up a bit on it. Could someone well versed in it explain the implications for UNG? One guy said that if we past 2.65 on the spot price it can mean continued breakout but if not we have the risk of retracing some of our recent gains. Is that a correct interpretation?

      • 1 Reply to redrobinw
      • I think the answer to my question must be backwardation during that time period...which is what we could see happen again in the coming weeks/months.

        As far as Fibonacci goes, I personally have a difficult time accepting chart analysis as a means to determine the worthiness of an ETF (UNG) that is based on the futures price of a commodity. Commodities don't care about Fibonacci, prices are purely supply and demand driven, in addition to any market manipulation that may be taking place.

 
UNG
20.95-0.39(-1.83%)Sep 19 4:00 PMEDT

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