UNG is Heating Up! Smart Money’s Radar Locked In – Ready for a B
🚀Technical Analysis (TA) for UNG – Natural Gas ETF
* Trend: UNG is in an uptrend, holding above key support at $18.21 and forming higher lows.
* Price Action: The stock recently tested $18.89 but pulled back slightly, consolidating near the upper trendline.
* Support & Resistance:
* Resistance: $18.80 (current resistance), followed by $19.00 psychological level.
* Support: Strong support near $18.21, with a lower trendline acting as secondary support.
* Indicators:
* MACD: Shows weakening momentum, with the histogram slightly fading, indicating possible short-term consolidation.
* Stochastic RSI: Recently crossed downward from overbought levels, suggesting a cooling-off period before the next move.
Trade Outlook
* Bullish Scenario: A breakout above $18.80 with volume could push it toward $19.00+.
* Bearish Scenario: Failure to hold $18.21 could see a retest of $17.41 support.
💡 Final Thoughts: UNG remains a high-probability stock on the radar, but traders should watch for confirmation of trend continuation or potential rejection at resistance. Keep an eye on volume and price action near key levels.
🚨 This analysis is for educational purposes only and does not constitute financial advice. 🚨
* Trend: UNG is in an uptrend, holding above key support at $18.21 and forming higher lows.
* Price Action: The stock recently tested $18.89 but pulled back slightly, consolidating near the upper trendline.
* Support & Resistance:
* Resistance: $18.80 (current resistance), followed by $19.00 psychological level.
* Support: Strong support near $18.21, with a lower trendline acting as secondary support.
* Indicators:
* MACD: Shows weakening momentum, with the histogram slightly fading, indicating possible short-term consolidation.
* Stochastic RSI: Recently crossed downward from overbought levels, suggesting a cooling-off period before the next move.
Trade Outlook
* Bullish Scenario: A breakout above $18.80 with volume could push it toward $19.00+.
* Bearish Scenario: Failure to hold $18.21 could see a retest of $17.41 support.
💡 Final Thoughts: UNG remains a high-probability stock on the radar, but traders should watch for confirmation of trend continuation or potential rejection at resistance. Keep an eye on volume and price action near key levels.
🚨 This analysis is for educational purposes only and does not constitute financial advice. 🚨
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.
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.