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The Power of the Pattern suggested on Thanksgiving it was time to harvest/Sell Natural Gas due to its strong gains, a bearish rising wedge had formed and its upcoming seasonal weakness was at hand!. (see NG harvest post here, up 40% in 6 months)
The above chart reflects that this is the “Season for NG to be weak in price” (see lower left inset above). At the same time this seasonal pattern is upon us, UNG is breaking below a key support line!
This situation doesn’t mean NG is a bad play in the long term, it just reflects that after a 40% gain in 6 months, NG is due at least a pause!