Replies to post #17330 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[Wrinkles]

Hi Brute, this bottom has been lil harder than usual to pick out....I just don't know to be honest....I watching for an NG $2.955 test today and if that breaks, $2.80 could come into play....BUT sure has been stubborn and may not dip back below $3.00.....this sucker is going to start working its way back to $3.40 in August sometime and $4 plus by yr end....

[Wrinkles]

Pay attn to NG $3.10/$3.11 area, if we break above and stay above, its go time....BUT if we come down sub $3.00 and test $2.95 support, be buying and if that should break and I doubt it at this point, but if it did NG $2.80 support is in play....I'll be buying at each level if I can sub $3......good luck with whatever your choice, nice swing trade ahead with patience, I think and JMO.....