Followup – UNG

May 4, 2011
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UNG could have completed a “5 of 5” a little short of the Swing Target of 11.40+-.

A normal correction now would take it back in the area of 11.40-11.50  This would be in the general area of wave 4 of the next larger degree, a 38-50% correction, and a back-test of the daily trend line breakout.  Also note that the OBOS oscillator has turned down from the OB area:

UNG Daily

Picture 1 of 2

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