My near, intermediate, and longer-term work in the U.S. Natural Gas Fund ETF (NYSE: UNG) is so oversold and is screaming for a very powerful recovery rally period that should propel prices to a minimum of 20.00 and more than likely to 25.00 in the upcoming days and weeks. The enclosed chart pattern argues strongly that the most recent downleg from the January 6 high at 25.98 ended this morning at a new bear market low of 15.48, and that a recovery rally period is in its initial stages. First target is 16.80, then 17.30, and then a test of the prior rally peak at 17.95, which if hurdled will trigger very significant near-term buy signals.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.