8.7 C
New York
Thursday, March 28, 2024

Natural Gas (UNG) Explodes Higher, Eyes Overhead Price Target

Courtesy of Chris Kimble

Inflation is felt the most with food and energy. Today we look at the latter, focusing on rising natural gas prices.

In particular, we look at the “weekly” chart of the United States Natural Gas ETF (UNG).  And, as you can see, prices are exploding higher.

The rise over the past two years has been strong. And this strength has price breaking out of an 8-year falling channel at (1).

This has created a vacuum in which price can rally all the way up to resistance at $36. This resistance comes into play at the two prior peaks.

Will momentum carry price there in short order? Natty gas is red-hot! Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE.

To become a member of Kimble Charting Solutions, click here.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x