We have been looking at $UNG since early November when it looked like it was completing a price bottom for 2018. The bullish outlook we anticipated materialized in a flash as price surged o $40 in a couple of weeks after completing the price bottom. Now we are looking at a sharp pullback, and we should anticipate support where there was key resistance - in the $27-$28.50 area. United Natural Gas Fund (UNG) Looking at a Potential Price Bottom for 2018United States Natural Gas Fund (UNG) Has been Surging After We Predicted a Price BottomUNG Daily Chart(click to enlarge)Sharp Pullback and Support:- As we can see on the daily chart, price consolidated after surging to the $38.60 resistance area. - After a few weeks in sideways action, price began to fall sharply last week, spilling the bearish mode into this week.- I think after such a sharp run up, we should not be surprised about an equally sharp pullback.- However, I think the 2018 price bottom is still in play. - I think the market will see support around $27-$28.50 area, maybe around $28. This was a critical resistance before and should become a key support if the overall trend has indeed turned bullish.- To me, price can stretch down to $25.50 and still look bullish for the medium-term.- Below $25.50 I would have to wait for more clues before reassessing.