Natural Gas and UNG are poised for Another Recovery Upleg By MPTrader
* March 28, 2016
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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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must! • gtsourdinis
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