United States Natural Gas Fund LP Set to Possibly Pullback After Yesterday's Rally of 5.13%
United States Natural Gas Fund LP (NYSE:UNG) traded in a range yesterday that spanned from a low of $6.75 to a high of $6.89. Yesterday, the shares gained 5.1%, which took the trading range above the 3-day high of $6.62 on volume of 8.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of United States Natural Gas Fund LP have traded between a low of $5.78 and a high of $15.28 and are now at $6.86, which is 19% above that low price. The 200-day and 50-day moving averages have moved 1.49% lower and 0.24% higher over the past week, respectively.
SmarTrend is tracking the current trend status for United States Natural Gas Fund LP and will alert subscribers who have UNG in their portfolio or watchlist when shares have changed trend direction.
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