Gareth Soloway
InTheMoneyStocks
Monday, September 30, 2019
Natural Gas Nears Technical Bounce Level $UNG
The Natural Gas ETF (UNG) has fallen from above $23 to $20 in just two weeks. The $23 pivot top represented a daily chart hit of the 200 moving average (resistance). This $20 level represents a hit of the daily 50 moving average (support). Just pennies below this level resides a major gap fill at $19.75. That is where I am waiting to buy. It is also at the Fibonacci 61.8%. With multiple factors, the UNG should get a solid bounce.
