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Natural Gas and UNG are poised for Another Recovery Upleg

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The United States Natural Gas Fund, LP (UNG) has the right look and set-up for the initiation of a new upleg off of its March 4 low at 5.72. The first upleg ended at the March 17 high of 6.88. Current strength should challenge and hurdle the Jan-Mar resistance line, now at 6.60, which should trigger upside acceleration towards my next optimal target zone of 7.20-7.50. Only a decline that breaks 6.24 will weaken the developing set-up.

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