AMEX:UNG   UNITED STATES NATURAL GAS FUND
32 3 2
Folks, this short is NOT a CERTAINTY, but the R/R is there IF you use stops in the 6.69 / 6.82 region.
I've also labeled a possible Leading Diagonal in pink. IF price goes over 6.82 to new local highs, THEN probability shifts in favor of a more meaningful bottom, though not necessarily THE BOTTOM...
CAPITAL PRESERVATION is PARAMOUNT

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UNG did move higher into resistance this morning, but has not invalidated the potential for a move to new lows.
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Break below initial resistance is constructive for those already in shorts. Could add here with stops if you're late to the trade.
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Good progress today, but we've got to push through this support region and get below 6.16 tomorrow. A bounce from here back over the morning's presumed wave ii high and better not to be holding short imo.

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