Today’s pop in natural gas impacted the ProShares Ultra DJ UBS Natural Gas ETF (BOIL) positively, with the latter’s price structure climbing above its February resistance line (green) and continuing towards a confrontation with more significant resistance at 14.50/55.
A close above 14.55 should trigger upside continuation and acceleration to 15.20/50. At this juncture, only a decline that breaks 13.50 will begin to compromise the timing of the upside breakout.
