Natural Gas ETF surges above April high
The US Natural Gas Fund (UNG) is perking up with a little break above the April-May highs today. However, like the commodity itself, UNG remains in a long-term downtrend. After consolidating the last two months, the breakout argues for an oversold bounce that could retrace 50% of the prior decline. The indicator window shows the Amex Natural Gas Index ($XNG) along with the US Natural Gas Fund (black).

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