By Sellputs
Today's action was very indicative of people finally understanding fundamentals are not driving Oil higher. As i noted last night OIH is trading in a topping manner, today it fell off 6 bucks, ring the register but stay strong. UNG is a follower trade, i think getting short Nat gas here is a bit late. I would watch how it holds at support, which is the bottom of the pennant it has been forming. The charts below are of OIH and UNG as of today. NOTE the red circles in OIH which are periods of volatility, there is a clear pattern forming. The UNG chart as you can see has a clear consolidation followed by breakout.
