Get started
gmaster29

UNG - Head and Shoulders - Target 13.25, 12.25

Short
United States Natural Gas Fund LP (AMEX:UNG)  
gmaster29 Updated   
AMEX:UNG   United States Natural Gas Fund LP
Head and Shoulders Natural Gas USA
4
0
headandshoulders naturalgas usa
UNG formed a Head and Should pattern in the daily chart and recently broke down the neck line. It's looking bearish and would test the 200 DMA around 13.25 and would test 12.25 in next 2-3 months.
Comment:
UNG met first target 13.25 exactly yesterday. It's trying to bounce off the key support line, still waiting for the next target for 12.25.
Trade closed: target reached:
Target 12.25 reached today and it might test the levels 11.45, 11.07 levels before a bounce.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.