$UNG - RC -
Added 2023-12-28 16:58:40 +0000 UTC$UNG had been consolidating sideways since June and could not develop into an impulse wave after completing Wave 5 down.
After breaking the previous support level at $5.90, it continued its rapid descent and has just found support on our First Target level, the Second Target is at risk here if the price action can not get back up to retest the blue line again at $5.90 and flip this to support.
The price is well below its 50 and 200 Day MA so there is a lot of work needed here to turn this bullish.
