Natural Gas and UNG are poised for Another Recovery Upleg

The United States Natural Gas Fund, LP (UNG) has the right look and set-up for the initiation of a new upleg off of its March 4 low at 5.72.

The first upleg ended at the March 17 high of 6.88.

Current strength should challenge and hurdle the Jan-Mar resistance line, now at 6.60, which should trigger upside acceleration towards my next optimal target zone of 7.20-7.50.

Only a decline that breaks 6.24 will weaken the developing set-up.