Collapse in Natural Gase (UNG), Further Declines Ahead

Our bullish declining wedge broke today foreshadowing further loses and declines in UNG. I advised all prospective and speculative day traders to wait until their was a clear sign up and no to pre-empt the trend because the collapse through support could mean further loses to eight and some change (I've drawn in the new lower support level). Let's keep an eye on it but the large declining wedge from 2016 I don't think has finished playing out. An ETF to play with further declines is symbol KOLD.

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Actually the previous low was almost $9.00 so lets look at that!