UNG made a lower low today. Big deal! It has been making lower lows for over a year. This one is a little different from the lower lows over the last couple of months.
There is a clear five waves down since the 10/6/09 high. The fifth wave may not be complete, but if not, it should be near. Will this be the end to the long protracted down trend? We will have to see. One thing we can expect is a retracement of the move down from the 10/6/09 high.
Volume has increased above the 50-day average in the last three trading days as the price has closed down each day. Todayâs volume was the highest. Could there be capitulation? Are bull traders finally throwing in the towel?
There is a clear five waves down since the 10/6/09 high. The fifth wave may not be complete, but if not, it should be near. Will this be the end to the long protracted down trend? We will have to see. One thing we can expect is a retracement of the move down from the 10/6/09 high.
Volume has increased above the 50-day average in the last three trading days as the price has closed down each day. Todayâs volume was the highest. Could there be capitulation? Are bull traders finally throwing in the towel?
