It is a god bounce from the local low of $10.60 to $11.33 or so.
However, the current situation is that there is contango of 1.0% from May to June and of 1.7% from June to July contracts. This is still not good news.
Thursday, April 21, 2011
UNG shows good bounce, but beware contango still in effect
UNG has bounced a little in the last couple of days:
It is a god bounce from the local low of $10.60 to $11.33 or so.
However, the current situation is that there is contango of 1.0% from May to June and of 1.7% from June to July contracts. This is still not good news.
It is a god bounce from the local low of $10.60 to $11.33 or so.
However, the current situation is that there is contango of 1.0% from May to June and of 1.7% from June to July contracts. This is still not good news.
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