Conclusion, Investment Implications, Strategy

We exited our August 31st long idea in the United States Natural Gas Fund, LP (UNG) on the this morning for a 17% outright gain while outperforming the benchmark S&P 500 by 14% as it is testing and may be stalling at formidale overhed resistance at 17.74.

Analysis and Rationale

In our Aug 31st Asbury Alert, entitled Natural Gas (UNG) Poised For Further Gains we said:

The United States Natural Gas Fund, LP (UNG) is amid favorable conditions to continue its recent advance as it broke out above a major overhead resistance level on Aug 26th amid relative outperformance versus the benchmark S&P 500.  We view this as a potential diversification opportunity as the S&P 500 has already risen by 107% since March 2020.

Here is an updated version of the chart of EGP from our Jly 12th report.

UNG daily since September 2018


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