UNG C&H Forming On The Daily ChartOver the last 2 months, UNG has dropped from the $24 level, down to $22 and now it's back up to $24. In the last week, we can see the price consolidating at the $24-$24.50 range and is looking to pop higher.
Next level of resistance is at $27, which is a range of ~13%.
The C&H can be seen on both price, RSI and Stochs. Keep an eye on this, if RSI starts to turn up, jump on board because it'll be ready to rip shortly.
GL
UNG trade ideas
Buy UNG ranging $7.00 to $7.15all triple and double ETF's such as UGAZ and UVXY always head to zero quickly. They are only short term trades. UNG does not have major support until it gets into the $7.00 to $7.15 range. Once the UNG gets to this range, buy UGAZ, expecting a sharp bounce and able to multiple the gains 3X. This will be a quick bounce and not something you want to marry for months.