xtremerider8

UNG bullish;W3 OF III extended;may retrace to 25.34 midbox first

Long
AMEX:UNG   United States Natural Gas Fund LP
In this weekly chart, UNG Natural Gas still has a long way to go. It is currently doing wave 3 of 3 but is already over-extended in its Bollinger Band . It is likely to retrace very soon to the middle of the latest DARVAS consolidation box which is 25.34 before continuing the wave 5 of III. 25.34 is also the low of the latest big green weekly breakout candle.
Supply crisis is not going away soon.
Not trading advice

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