United States Natural Gas Fund ($UNG) has been trending steadily lower since June, offering high probability short opportunities throughout the decline. The recent short signal could forecast a new low for $UNG ahead. Take a look..
PEMA Pull-Back
The daily chart of $UNG shows a new short signal has fired via the PEMA Pull-Back system, which fires entries on pull-backs during trending markets.
Essentially, every pull-back during a bearish trend becomes a selling opportunity.
If price remains beneath $5.85, we could see another round of weakness to price levels below $5.00 – and potentially down to $4.50.
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Cheers!
Frank Ochoa
PivotBoss.com
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