Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Is Natural Gas still bullish?

Natural Gas has been in a downward spiral since July 2008. Unlike most of the other commodities, which showed strong gains in 2009, Natural Gas keeps going down. Several analysts tried to pick the bottom, with little luck... However, since May Natural Gas is showing real signs of bullish strength. Key price levels to watch are, for the United States Natural Gas ETF (ticker UNG):

Current support level: 7.75 to 7.65

Becomes strongly bullish closing above: 8.80

Returns to bearish mode closing below: 6.70

Prospective investors should look at unitedstatesnaturalgasfund.com to read the prospectus and discuss with an Advisor or Broker before investing.

Canadian investors can use the bullish Natural Gas ETF (ticker HNU), which displays similar price behaviour, watching for the following levels:

Current support level: 6.00 to 6.40

Becomes strongly bullish closing above: 8.00

Returns to bearish mode closing below: 4.80

Prospective investors should look at hbpetfs.com to read the prospectus and discuss with an Advisor or Broker before investing.

If you are an independent investor, make sure you know the risks involved with this type of investment. In the long term controlling risk is the holy grail of investing, not picking the bottom or the top of the market swings.