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…
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…
Natural Gas (NG) is consolidating after rallying another more than 2.5% yesterday, and is increasingly well positioned to reversing the sharp selloff from the February high. Significantly, odds are high for NG to break above the 50% Fib retrace of the January-February rally, coinciding with the psychologically key 4.5 whole figure level, by the weekend…
The EURJPY is consolidating for a 5th day near ascending triangle resistance (on the 4hr chart). Significantly, the EURJPY appears poised to resume its breakout last week, above a triangle resistance (on the weekly chart)…
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…
The EURUSD is consolidating in today’s Asia morning after yesterday’s roughly 100 pip gain from the day’s low to its high. Significantly, the EURUSD has broken above the December high and downchannel/descending wedge resistance (on the weekly chart)…
Gold (GC) is consolidating yesterday’s bounce off the psychologically key 1800 whole figure level in today’s Asia morning. Significantly, GC has reclaimed the 50% Fib retrace of the slide from the November peak, and appears to be gearing up for a test of the weekly chart triangle resistance sometime in January…
Natural Gas (NG) is firming in today’s European morning, continuing a strong reversal since last week’s bottom near the psychologically key 3.5 whole figure level. Significantly, although NG is in the early stages of halting its slide since October, before bulls get excited, they’ll want to first see a daily and weekly close above downchannel resistance (on the daily and weekly chart)…
Silver (SI) is fairly advanced in its efforts to form a bottom after the sharp slide from the November peak. Significantly, SI’s December low has been roughly equal to the September low, potentially forming a Double Bottom…
Gold (GC) is entering the advanced stages of a bottoming effort after the slide from the November high. Significantly, GC is trying to reclaim an uptrend support line connecting the August low to the lows in September and November, after briefly breaking below it last week…
