$UNG breaks to new high in “GO” trend

$UNG breaks to new high in “GO” trend


August 2022


Alex Cole

$UNG, United States Natural Gas Fund, is above resistance levels from earlier this year.

Earlier this month, GoNoGo Oscillator broke out of a max GoNoGo Squeeze into positive territory on heavy volume.  That momentum, in the direction of the “Go” trend has been enough to see price battle above resistance levels from prior highs. Now, with GoNoGo Oscillator overbought, we will look to see if price can push higher or if it cools allowing the oscillator to fall toward the zero line where we can look for support.