UNG (Natural Gas ETF) - Close to a bottom

UNG (Natural Gas ETF) close to a bottom

Since the February high at 27.89 we have seen a very complex double zig-zag correction, which should be very close to a bottom. Ideally we will see this wave IV end in the 20.12 - 20.42 area for a break above resistance at 21.95 being the first strong indication, that the bottom is in place for the next major rally higher to above 27.89 in wave V.

At this point only a break below support at 19.98 will be of concern as that will leave us with an overlap between wave I and IV, which is not allowed under the Elliott Wave Principle.

Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe
Duane
2014-05-26
Great job this week!! Wish that I had more capital to capitalize on all of your great calls! The ones that I have managed to catch have been extremely profitable. I really appreciate you sharing you v...