UNG (natural gas ETN) has triggered a buy signal on this breakout above the primary downtrend line with a confirming signal & objective add-on to come on a solid daily close above the downtrend line as well as a bullish crossover on the PPO. Still a very aggressive counter-trend trade & make sure to appropriately beta-adjust down the position size accordingly due to the above-average gain/loss potential on natural gas. (Suggested beta-adjusted position size 0.25+/-). The RSOTC Position Size Calculator can be accessed here.
UNG daily Feb 7th
Updated price targets (T1–T3) are listed on the daily chart above with updated targets for /NG or /QG (MINY nat gas futures) to follow soon, should this breakout stick.