Oops, spoke too soon. NG hit T8 (3.391) and then dropped like a prom dates panties.

Probably a good part of what is going on today & over the last few sessions with nat gas going somewhat parabolic. T7 (3.22) on /NG was just hit & I’d put a decent chance of a tradable pullback anywhere from here to the revised potential T8 (3.39) but can make a solid case to short it just yet. Nor do you want to be on the wrong side of a strong trend in nat gas as it often hits overbought (or oversold) and just keeps going like it doesn’t care.

I can’t make a very strong case to short nat gas yet & keep in mind, when natty wants to run, she can REALLY run so be careful about stepping in front of a strong bull trend in nat gas.

I just posted the charts & my thoughts on URA & LIT in a reply to Alansi (in case you haven’t already subscribed to email updates on this thread): https://rightsideofthechart.com/ng-ung-final-price-targets-hit-for-40-profit/#comment-30211

Basically mirror opposites of each other: URA rising wedge breakdown & kickback rally following divergent high with LIT recent bullish falling wedge breakout & backtest following divergent low.

I don’t have strong enough convictions on either for a position right now but LIT seems the more objective long (although I suspect one more new & divergent low soon) while URA seems like an objective short here at resistance and/or following any impulsive rejection off a backtest of the wedge from below. Daily charts below.