AMEX:UNG   UNITED STATES NATURAL GAS FUND LP
41 4 1
Need UNG             price to turn back down in wave iii             , breaking below pink alt ii support. I'd expect Stoch RSI to embed as indicated. MACD needs to hold below the broken UTL, though this isn't mandatory.
Note how v if (iii) went just beyond the 1.618 extension in the larger degree as shown at UNG 5.85...
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UNG stalled in resistance, Stoch RSI reset for another drop. Wave 3 of iii should be the most powerful move down - dragging MACD to dramatic lows. Price could extend well into the box on this image in just 3 of iii, but minimal targets for iii would be the 1.328 - 1.618. Wouldn't be surprised if 3 of iii hit this target region. A slow decline isn't what I'm expecting, so will watch for signs of strength which could indicate that the impulsive decline isn't materializing as depicted.
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UNG inside the expected bounce region. Embedded Stoch RSI gonna have to wait for wave 3 of iii down, IF it happens.
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Perhaps this is more helpful...?
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