Natural Gas (NG) Weekly Gravestone Retests Key 4.5 Level

Natural Gas (NG) is firming after yesterday’s healthy profittaking, trying to bounce off uptrend support (on the 4hr chart) and the psychologically key 4.5 whole figure level. Significantly, NG is forming a weekly Gravestone, and somewhat of a triangle (on the weekly chart) suggesting a moderately low likelihood of NG sliding back towards triangle support in the next week or so…

Nasdaq100 (NQ) Tries Bouncing From New February Low

The Nasdaq100 (NQ) is trying to firm as seen by the daily Doji forming, with a moderate probability for a bounce in the next day or so off downchannel support (on the 4hr chart) to the psychologically key 14k whole figure level. Significantly, regardless of any near term Dead Cat Bounce, today’s break of descending triangle support (on the daily chart) and the January low, suggests a looming Bear Flag extension…