Although I’ll use /NG at times, depending on which account (IRA vs. trading/margin acct) or the total exposure that I want to nat gas, I used UGAZ this time around as I figured nat gas would either bounce off that support zone, likely providing a quick in & out bounce trade only lasting a 3-5 or so sessions or continue on through it, thereby stopping me out relatively quickly. I’m still relying on the /NG charts for my analysis, especially since UGAZ has a fat void (gap) of “missing prices” since as an ETN, it didn’t trade on Monday while /NG did.

Maybe. The big players in the market (professionals) will typically trade futures vs. the leveraged ETFs. As such, even when trading the leveraged ETFs myself in lieu of using futures, I’ll keep a close eye on the charts of the futures to help hone in on my entries & exits.

If your broker and/or the charting platform that you use doesn’t offer real-time streaming charts for futures contracts, just go to investing.com, select “Futures” at the top of the chart & then enter NG (natural gas futures) and you will get a real-time streaming chart with various time frames & drawing tools to choose from. https://www.investing.com/charts/futures-charts

maybe 18-ish?

Hard to correlate 2.78 on /NG to the comparable level on UGAZ since UGAZ didn’t trade on Monday due to the President’s day holiday (hence, no charting history to correlate to) while /NG, as a futures contract, did trade on Monday. My best guess would be around ~17.50 while the 2.83 level on /NG (next key resistance) correlates to about 18.90 on UGAZ.