Told you so. I don't follow UNG, but I have followed Nat Gas for a very long time. Natty is going lower. Period. There is no demand and too many producers. Until rigs decline further, this price will continue to drop. And supplies will continue to build this summer until storage is filled. It WILL go below the previous low. Probably around 3.00 ....maybe even lower.
Folks, the fundamentals are horrible for nat gas. It will continue to fall or stay flat throughout the summer months. INDUSTRY is what drives nat gas prices....not so much the weather. Our production is zilch in the US and not coming back anytime soon.