UNG makes new low as natural gas probes for support

Unh uh, UNG! If I made any friends by identifying that $12 triangle target, I think I disappointed them by my stubborn insistence that volumes never did look bullish - not to mention the need to use protective stops, the recent drop being too low and with selling volumes looking concerning. Now, hello! Natural gas is now "falling under $3 for the first time in 7 years"....! If your stop got triggered, you're thankful to get your cash back and not feel stuck. Below is a chart of UNG (daily), and weekly and monthly charts of natural gas ($NatGas).

So it's reconfirmed its downtrend as far as I'm concerned. KI$$ traders should have gotten stopped out as well as swing traders. Once we can confirm a low, it will be accompanied by better buying volumes. Maybe it needs to go low enough to tag one of the trendlines. For now - let's save that cash until we see a trigger day up after a logical turning point, that also does see bullish confirming volumes. We don't want that part of our trading account go busted, we'll want to re-deploy when the buy point is even lower! I don't have a price target yet but will want to see the signs I've described above.