Penetrates Support, Spring Condition

Nat-Gas UNG dropped nearly -30% from the December 5th, 17.00 high, to yesterday’s low of 11.92.

Today was a bounce and by the close, UNG was up +4.46%

Note that yesterday’s low was a Fibonacci eight-days from the December 5th, high.

It was also below support, putting it in Wyckoff ‘spring’ position (not advice, not a recommendation).

Natural Gas UNG, Daily

After the up-thrust high, UNG essentially went straight down without even a hint of any upside test.

It’s not often UNG, posts an eight-day decline of -30% or more. The last such streak was back in November of 2022; from 11/22, to 12/5, of that year.

Stay Tuned

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The Danger Point®, trade mark: No. 6,505,279