NAT GAS ON A SLOW MELT UP!

It is not a chart that exactly gets the heart racing but nat gas has at least stopped going down. In fact looking at the chart (using UNG as a proxy) it appears that the bottom of this chart is holding.

And as we look out on a wider chart we can see the low was first put down last November and it continues to hold. Perhaps its the arrivial of hurricane season that has bulls hopefull for some potential supply constraints.
Certainly looks like a base is being built here and mlps may be getting a bit of a tail wind from this. MLPS were up over 2 points on the index yesterday as we head toward the first holiday weekend of the summer.

News wise it is quiet this morning and there are no upgrades or downgrades. Back to nat gas it was a little higher but now a little lower. Crude was a little higher and now is a little lower but holding over 100 bucks and stock futures are flat.