Tuesday August 7th, 2018 by Mike Paulenoff Natural Gas (UNG, UGAZ)-- last Friday afternoon we discussed NG and UGAZ, thinking and wondering if the intermediate and longer term patterns were indicating upside potential, finally, after years of sideways-to-lower price action? Last Friday afternoon, UGAZ was trading at 61.50 at the time of my post... Let's notice on the enclosed UGAZ chart that price has popped 3.8% today, but more importantly from a technical perspective, the strength has cleared and sustained a one year down trendline-- so far. ' The down trendline cuts across the price axis this afternoon in the vicinity of 61.15. Let's see if UGAZ can close above the trendline, and maybe even preserve the bulk of its 4% early session gains, which will intrigue BOTH the shorts and the longs in Nat Gas ahead of this week's Inventory Report, Thurs. at 10:30 AM ET... Last in UGAZ is 64.17/22Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com *Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.