Update: UNG (48.50) Natural Gas ETF heads for re-test

After a crushing correction holding support at the 50% fib mark (41.86), UNG gapped higher today. In the interim, expect a downward gap fill around 47.50 (see red box), then one more upward push toward the previous 50.12 high. However, further out daily diverging MACD momentum could coincide along with new highs as currently reflected in the weekly chart.