With the Fed pumping up the monetary base, the talk is re-flation. Let's look at the energy complex. The charts for both Natural Gas (UNG) and Unleaded Gasoline (UGA) look constructive. While one needs to wait for price moves over the well-defined resistance lines (in UNG it is a downward sloping line while in UGA it is a horizontal line). UGA also appears to be in a U-shape or saucer pattern. Both UNG and UGA show very little resistance above the break-out areas so it is reasonable to expect a significant move to the upside if they can break-out. Be patient.
