The UGAZ (3x long natural gas ETN) official short trade has traded as low as 40.00 so far today in the pre-market session (not reflected on this chart) which is just below the 41.40 support level with $NG (natural gas futures) having hit my initial & minimum downside target of 3.55. That's a 15.4% gain from the short entry on UGAZ Friday so one might opt to book partial or full profits here although the official targets will now be set at 36.12 & 31.44 (subject to revision based on the charts of nat gas futures). Suggested stop at this point will be Friday's entry price of 47.30 on UGAZ.
Natural Gas UGAZ at Support, Official Price Targets & Stops
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