UGAZ in no tradable zone, wait and see

Because of heavy decay on UGAZ, I will refer to chart i made on NETGASUSD, which is true reflection of the current situation.

comments below are for NETGASUSD
link to the chart:


On daily i see potential bearish pennant , But in overall its still 50/50 on the price movement.
I will stay on the sideline and see which way it will go.
The signal will be braking the resistance or support. In any case target will be around 20% gains.
I would love quick flash to the 1.25 and then sharp up movement, but time will tell

Short term (next week) I think we'll go up to the resistance at around 1.172 and if we cant brake it we'll slide back to 1.6
For quick trades I use UGAZ and DGAZ (huge decay, so dont hold them for long)

Target for
long 2.09
short 1.25

To summarize it:
Wait and watch support and resistance for entry

Good luck !