UNG trend line broken at last, GLD also above trend line

After more than 10 months of decline while religiously following the downward trend line, UNG finally managed to break above it today. The 5 DMA has crossed 15 DMA, which has flattened out. The closing price is $0.24 away from 50 DMA.


GLD also broke through the downward trend line but average volume has declined over the past 2 months. Its 5 DMA is above 15 DMA and today's closing price is just above 50 DMA.

Disclaimer: No position in any of mentioned securities.

Some interesting charts.

UNG price seems to be approaching is (downward) trend line, which it has been faithfully following since July 2008. Whether it will be able to break the trend line and hold above it remains to be seen. One recent change is the increase in volume but the 50 DMA is still 10% higher the price.

USO has already broken the down trend it has followed all of April.

XLF has already broken through resistance around 11.25 and has closed above it for the past 2 trading days. It sure can fall back below it but considering current market strength it seems somewhat unlikely for now.

Same is the case with T, MBT and FMCN. TV is just at its resistance (around 17.10).

Disclaimer: Long position in XLF.