Above is a chart of UNG, a natural gas ETF. While oil has been falling "less" slowly, UNG has taken a plunge quite fast. It is now sitting at the 200d and at its long term 61.8% fib retracement. The stochs, RSI are oversold. There are inklings of bullish divergences on some of the other oscillators.
We are long on this for a jump to around the 53 region. This is our first target. We can make case for UNG to go up around the 57 area, but we will take 53 as our first target for now.
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This is just a note to self -- testing out a theory that I have formed.
" Wednesday will be a significant turn around date for UNG "
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