UNG - Head and Shoulders - Target 13.25, 12.25
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.
Note
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.
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