Short-term resistance at 8.92 must be able to cap the upside to secure the final spike lower to 7.54 to complete waves c and B and set the stage for wave C to take over for a rally towards the 34.50 target. A direct break above minor resistance at 8.92 will confirm that wave B has been completed and wave C is in motion.
The decline to a new all-time low for UNG seems to be an overreaction when looking at Natural Gas as the commodity as it's nowhere near the all-time low.
Relevance up to 07:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
