I do see some strong resistance soon around $8 for UNG, where it
meets the down trending 34 week EMA.
However, the 5 wave impulsive move down seems ended in early
2016. So far, the move up seems corrective, so it might be a choppy
move up. To Steve's point, subjective entry is important in playing
this. I still believe percentage wise, this could be a big mover
this year. A 23% retracement can take UNG to 10.
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Thanks Steve, Matt and bbaz1
$NatGas Matt & Steve as patient teachers & Laouuu
Posted by laouuu on 9th of Jun 2016 at 05:09 pm
Thanks Steve, Matt and bbaz1 for the guidance.
I do see some strong resistance soon around $8 for UNG, where it meets the down trending 34 week EMA.
However, the 5 wave impulsive move down seems ended in early 2016. So far, the move up seems corrective, so it might be a choppy move up. To Steve's point, subjective entry is important in playing this. I still believe percentage wise, this could be a big mover this year. A 23% retracement can take UNG to 10.