UNG (natural gas ETN) has effectively* hit the final price target (T5) for a ~40% profit from the Dec 13th entry. Consider booking partial or full profits and/or raising stops if holding out for additional gains. Previous & updated 60-minute charts below.
UNG-60m-Dec-14th
UNG 60m Dec 21st
UNG 60m Dec 28th
*As always, price targets shown on charts are the actual resistance level(s) where a reaction is likely. It is suggested to book profits just shy of the resistance level(s) one is targeting in case the sellers step in early.
Likewise, /NG (natural gas futures) has hit & taken out T6 & is approaching the current final target (T7 just shy of the 3.218 resistance level). As such, consider raising stops to protect gains and/or booking partial or full profits, depending on your trading plan. I’ve always tweaked the “potential” final target from the downtrend line to the 3.93ish price resistance level, although the downtrend line would likely intersect 3.93, if /NG were to get there soon.
/NG also provided a very quick 18% profit for those that took the long entry highlighted on the pullback to trendline support yesterday. Previous (yesterday’s) and updated 60-minute charts below.
NG 60m Jan 8th
NG 60m Jan 9th