Wednesday, May 6, 2009

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.

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