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…

Natural Gas (NG) Bouncing Off Daily Chart Triangle Support

Natural Gas (NG) is trying to bounce off uptrend support (on the 4hr chart) in today’s Asia morning, making progress in recovering after Thursday’s strong profittaking. Significantly, NG is extending Friday’s rebound from just above the psychologically key 4 whole figure level, with the catalyst for testing triangle resistance (on the daily chart) coming as early as Thursday’s highly anticipated weekly storage data…