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Friday, February 17, 2012

UNG Target

UNG has so far escaped another lower low after January's bear flag played out.  Volume has also been unprecedentedly high.  So far today it has gapped up and held the 20 day EMA as well as the 50% Fib retracement level.   If this level can hold and consolidate,  6 area is the obvious first target.  It's way too early, but the eventual target would be the 7 area.

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