There will likely be two Weekly reports this week as the market performed and interesting technical formation of late. There will not be a Weekly next week as I have my annual fishing trip to Canada late this week and internet service is sketchy at best.
First off lets review last week’s action–While on a trading basis September did fail at lower high ($9.677 v $9.752) on a daily ($9.336 v$9.322) a continuation basis prompt gas set new closing highs. There were new closing highs in the Winter ’22 – ’23 strip ($8.991 v $8.779). To this trader, these are warning signals for the Q4 and Q1 action.
