UNG is just pennies away from my $12 target so be alert if you want to buy natural gas, either with this ETF or using another vehicle. It will be prudent to look for a reversal pattern to print, of course, but if you are buying UNG at $12 then I'd recommend an initial stop level as low as $10 or if you like tighter stops, then at $11.70 for now, and/or keep a close eye on it. Also if you are buying in soon then consider a strategy of edging in, and adding more as a bullish reversal pattern manifests.
The speed of the drop toward $12 helps confirm this is most likely the fifth wave thrust I have been talking about. I could it as a small 5th wave of the fifth wave down that completes a movement from the triangle. It can possibly be a large "C" wave from the peak.
This doesn't mean that natural gas will explode upward, but it can mean that it reverses trend (finally!) and goes into an upward trending mode.
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