With Natural gas prices seeing a renewed push higher this week, the 3x lev' (bullish) ETN of UGAZ soared, settling +9.6% @ $35.79. Across the week, UGAZ gained 31.3%, whilst Natural Gas prices climbed 17.9% to $6.14
*first, an update on Nat' gas prices, weekly, 3yr
Upside target for Nat' gas is the 7.50/8.00 zone by mid/late March. As many recognise, the closer we get to spring, the closer we are to a seasonal peak in Nat' gas prices.
As ever...the 3x leveraged instruments are subject to very strong decay issues, and are almost always only for short-term holds.