In trading on Thursday, shares of the United States Natural Gas Fund LP ETF (Symbol: UNG) dropped to a low of $9.545 per share, entering oversold territory with a Relative Strength Index (RSI) of 29.1. An RSI reading below 30 indicates oversold conditions; in comparison, the RSI for the S&P 500 is currently 64.2. This could signal to bullish investors that heavy selling may be near exhaustion.
Over the past year, UNG has exhibited a 52-week range with a low of $9.545 and a high of $17.025, closing the day at $9.63, reflecting a decline of about 1.3%.
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