Category: Daily Call

Daily Continuous

Prices inched downward yesterday and would expect today’s trade to test the bearish support from last month in the gap at $2.968 (weekly chart). We will start to get a idea of will this become the base for the upcoming Q4 run in prices.

Major Support: $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance:$3.19, $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuation

Not a whole lot of detail or technical interpretation beyond what was published in the Weekly section for the lighter trade expected today.

Major Support: $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance:$3.19, $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuous

Not a lot of technical information on the activity yesterday other than the storage data provided the stimulus to seek the low side of the range. Still a range market no significant bias change.

Major Support: $3.25, $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuous

I guess the upcoming storage data is going to be bearish as the market jumped on the price rises from the day before (I thought the data release was going to be affected by the shutdown). Regardless of the outside forces -, the price decline confirmed there is no bias change but rather a test of resistance that failed and retreated to the middle of the recent range.

Major Support: $3.25, $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuous

Unlike last week’s excursion over the 200 day SMA and the 40 week SMA prices held the gains into the close– now it will need to confirm the action. The next couple of days will confirm– the trade remains the range of late but be cautious of shorting the high side.

Major Support: $3.25, $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuous

The price action started strong and then leveled off — never testing the highs of last week but staying firm. Suggest working the range and if you’re selling premium in the option be cautious of the proximity to prompt as the market has not ruled out a run nor a collapse.

Major Support: $3.25, $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Unfortunately, I am unable to download the Daily Chart associated with the Daily- Look at the Weekly chart in the Weekly section and you will notice what I am referring too. The market chose to test the support only to reverse upward on what may be indicative of a bias change. Treat the range with respect as the breakout or breakdown will likely not occur immediately.

Major Support: $3.25, $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.39, $3.62, $3.80-$3.85, $4.168, $4.461,

Daily Continuous

Spoke yesterday about a bullish move taking small steps and sure enough, the market rallied quickly in trade yesterday. Waiting for the volume and open interest publishing but the market challenged the 200 day SMA for the first time in over a year. Today is storage day and should provide solid evidence of any bias correction. Play the new range….

Major Support: $3.192, $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.25-$3.31,$3.39, $3.62, $4.168, $4.461,

Daily Continuation

In the head line I wrote about a short covering rally starts off with a bang as the shorts struggle to cover. In longer term run in prices (long term bias change) which are characterized by one step back followed by two steps forward. Important week in the coming ten days to establish the bias.

Major Support: $3.167, $3.06, $3.00-$2.97, $2.843, $2.727, $2.648
Minor Support :
Major Resistance: $3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461,