UGAZ Breaks Critical Support Level at 50-Day MA

UGAZ Breaks Critical Support Level at 50-Day MA

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UGAZ has fallen below its critical support at its 50-day MA as the selloff after Thursday’s EIA Natural Gas Weekly Storage Report continues to weigh heavily on the leveraged 3x ETN.

The strong MACD crossover to the downside also indicates further pain for bulls if UGAZ cannot regain the 50-day MA before trading ends on January 16, 2015.

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