The UNG chart doesn't look as great but that's because of the creation of and then dissolution of the premium (UNG was up only 2.5% today despite the surge in their holdings). This UNG chart does show capitulation, it shows bullish signals on the stochastics and almost on the CCI. It also shows a wedge that is about to confirm a failed breakdown reversal. I don't really see any other scenario possible besides a massive short squeeze to begin the next bull market in natural gas. Its too early, of course, to call this a bull market. But I bet that by the end of Fall I'll be posting about the new natural gas bull market that began here right now. There are issues, and always will be with investing in ETF's like UNG that roll through commodity futures, but the fact is its the simplest and most accessible method for profiting on the insane gains coming for this commodity. I think another great way to profit from the coming bull market in natural gas will be solar energy, but that's for another day, and another post. For now, this is a day for natural gas bulls. Hold them GAZ or UNGs!
More infon about UNG here.