Author: Willis Bennett

Slight Break Down on the Report

Daily Continuous

A little action on the report itself — but in reality it was a slow and methodical meltdown well off of the report release. Price reaction has been trading on fundamental weather forecasts — so to me it will be interesting to watch the selling in the face of 1Bcf/d decline in production and all of the announced declines from the operators.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Going To Need an Alarm — Wake Me Up

Daily Continuous

A week later and not much has changed going into the storage report. Last week brought little volatility — what will this week bring.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Taking Its Time

Daily Continuous

Well the break above $2.00 is clearly on the “sloth” approach. Though prices did manage to eclipse $2.00 for a moment — there was not enough to force any sort of covering — just additional selling into the close. Not much to add technical — just a struggle at resistance.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

A Little Closer

Daily Continuous

It climbed closer to the key resistance at $2.00 but could not finish it at the end. Not sure if the April contract will but one would have to believe that prices are going to run above $2.00 during the Q2 high. Is it now or later — no clue.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Perhaps the Time Is Coming

Weekly Continuous with RSI

The support held that I mentioned last week. After the quick trade deep into the zone of historical support expiring March rallied about $.20/dt before fading to go off the board at $1.615, $.875 lower than February settlement and the lowest monthly settlement since July ’20 at $1.495 after trading the June ’20 multi – year low. From there prices reversed higher to record the largest one day gain of its tenure as prompt.

Rather than immediately forfeiting its premium over expired March ($.193…which was almost a dime more than at last Friday’s close and $.083 more than a year ago) the new prompt traded stubbornly above its “expiration” gap and rallied to test resistance expected to be presented by its highs of the last two weeks ($1.877 –$1.890, ). From its close a week ago April traded $.219 higher, to $1.918 and closed above the continuation 20 – day SMA for the first time since January 17th and found support at that moving average through the end of the week, closing $.136/dt higher.

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Going to Check Resistance

Daily Continuous with RSI

Went into some of the longer term analysis and expectations in the Weekly section. On the Daily just checking out the resistance levels to make sure they hold. Should they break — expect a short covering rally to send prices $.15 higher. Should they hold the range remains in place and a test of support is likely coming in a few days.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Momentary Volatility

Daily Continuous

found a brief moment of price movement after the release, likely short covering on the number being more bullish than expected, but then prices just spent the remainder of the day retracing lower. Again, no major commitment in either bias. Snooze along.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

The Beat Goes On

Daily Continuous

Missed the email yesterday, but nothing has changed with the roll over to April as prompt. Perhaps the storage report will provide some volatility, but I am not sure. Everyone knows that we are well supplied with gas coming out of the winter– it is basically the reason we are trading under $2.00. I am still working the call spreads and selling other premium to just keep interested in a very boring market.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

April Takes Over

Daily Continuous

Did not get this out in the mail today, my apologies, but to tell the truth, wasn’t even going to post today due to the lack of action. Market seems to maintain range bound action- so lets see if it challenges the resistance area before the storage data comes out on Thursday.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.

Consolidation? Not Sure

Daily Continuation

Have no clue if this is a consolidation process or just range trading after testing the higher side of the range. Needless to say, this may just be the market scrambling during the expiration process. My attitude has always been about staying away from the expiration trade. Continue with that thought.

Major Support:, $1.595, $1.52-$1.519, $1.432, $1.312
Minor Support :
Major Resistance: $1.863, $1.94-$1.967, $2.00, $3.00, $3.16, $3.48, $3.536, 3.59,

To read The Daily Call you must be a subscriber (Current members sign in here. ) Start your subscription today.