Natural Gas UGAZ at Support, Official Price Targets & Stops

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.

2016-12-12T09:14:07+00:00Dec 12, 2016 9:12am|Categories: Completed Trades - Short, Gold & Commodities|Tags: , , , , |4 Comments


  1. GetItRiight December 12, 2016 9:15 am at 9:15 am

    Randy, can you please suggest targets for NG futures as well? Do you see it go as low as 2.5?

    • rsotc December 12, 2016 11:05 am at 11:05 am

      Any of these horizontal support levels are potential price targets (unadjusted for an optimal fill) on NG, nat gas futures. With the 3.55 level clearly taken out now, that opens the door for a move down to the next support/target around 3.38. Next S levels after that are 3.30 & then 3.124.

      Hard to say at this point if 2.5 is likely to be hit before this pullback/correction is said & done but certainly a possibility when I look at the $NATGAS daily chart:

  2. rsotc December 12, 2016 10:56 am at 10:56 am

    S1 (1st support level) on UGAZ clearly taken out after a brief consolidation/reaction there in pre-market & early in the regular trading session today. This opens the door for a continued move down to the T1 level.

  3. rsotc December 12, 2016 12:21 pm at 12:21 pm

    Price targets for those long DGAZ as a shorting proxy for natural gas. Note: The actual resistance levels are shown on this 60-minute chart. As such, it is best to set your sell limit orders slightly (about 8 cents or so) below the resistance level(s) that you are targeting. The 4.00 area which DGAZ has hit today is the first resistance level where a reaction is likely & can be used for booking quick partial or full profits for those that shorted nat gas on Friday.


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