Nat-Gas: According To Plan

The last update said that nat-gas (UNG) would have a test lower to wash out any late-comers to the rally.

Price action indeed went through a deep retrace/test and also a secondary test during today’s session.

This is normal market behavior at reversals. 

A test can always fail with the market resuming its downward trajectory.  However, at this juncture, probabilities favor continuation of the reversal to higher prices (not advice, not a recommendation).

Charts by StockCharts

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