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The Power of the Pattern: The Mother of All Bullish Setups in Natural Gas

Yahoo Finance

Chris Kimble is the founder of Kimble Charting Solutions, an investment research firm in Salina, Kansas. Chris is a seasoned trader and a master market technician and the charts he draws are both soundly constructed and engaging. You can follow his awesome Tumblr HERE.

Natural gas looks like the Mother of All Bullish Inverse Head and Shoulders Patterns.

I have been studying price patterns for decades, have looked at an endless number of charts and only very rarely do I see them setting up as nicely as natural gas here (UNG).

This past Summer, I shared the above chart when the right shoulder looked like it was just beginning to form and hinting that this could be one of the largest inverse head and shoulders patterns I have ever seen.

This present chart update shows that natural gas appears to be breaking above the neckline. This confirms the pattern and is where it can begin picking up serious momentum!

The upside target is equal to the height of the head of the neckline. This target also happens to be a parallel channel of the neckline.

For those who are not familiar with the inverse head and shoulders patter, you can find more information HERE.