Category: Daily Call

It Was A Lower High?

Daily Continuous

There was a lower high with yesterday’s trade, but I would of liked a test of $3.55-$3.60 as a solid lower high before the collapse of the gains sending price to a lower low. Guess the storage release has a bearish bias. Lower targets have not changed from the beginning of the week.

Major Support: $3.16-$3.148, $3.136-$3.024, $2.93
Minor Support/Resistance :
Major Resistance: $3.372, $3.467, $3.554, $3.787-$3.831, $4.063, $4.086

Perhaps Setting a Lower High

Daily Continuous

Suggested in the Weekly section last week that the declines could go straight down but I urged a more structured decline though the process of trading a lower low followed by brief rallies to set a lower high. Looks like this process may be taking establishing this approach.

Major Support: $3.16-$3.148, $3.136-$3.024, $2.93
Minor Support/Resistance :
Major Resistance: $3.372, $3.467, $3.554, $3.787-$3.831, $4.063, $4.086

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Bearish Bias Rocks On

Daily Continuous

Define the technical aspect of the price movements last week in the Weekly section. Let me summarize – Bearish Bias and likely to continue though declines may not be quick follow the concept of lower lows and lower highs.

Major Support: $3.16-$3.148, $3.136-$3.024, $2.93
Minor Support/Resistance :
Major Resistance: $3.372, $3.467, $3.554, $3.787-$3.831, $4.063, $4.086

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Testing the Support Zone

Daily Continuous

Mentioned in the Weekly section that prices seemed to be destined to check the support zones in the near future. Welcome to the near future as prices melted down to set a lower low but had a brief rally by the end of the day. Market seems to looking at fundamental data coming out at the storage release to add to the bearish bias.

Major Support: $3.57-$3.546, $3.334,$3.16-$3.148
Minor Support/Resistance : $3.489,$3.467
Major Resistance: $3.787-$3.831, $4.063, $4.086

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Negative Bias Returns to Gas

Daily Continuous

Go into the many aspects of why the market flipped to a negative bias in the Weekly section — but all you need to see is that prices are down $.15 and challenging support zones in the early Sunday trade. Not sure how this will track (1: an immediate decline during Jan or 2: or a series of lower highs and lower lows) but the market is clearly setting up for the Q1 lows to be established. My guess is the latter with the low occurring next month.

Major Support: $3.57-$3.546, $3.334,$3.16-$3.148
Minor Support/Resistance : $3.489,$3.467
Major Resistance: $3.787-$3.831, $4.063, $4.086

Not A Lot to Add

Daily Continuous

Discussed the action from last week in the Weekly Section.– Not a lot to add for the Daily

Major Support: $3.82, $3.75 $3.654,
Minor Support/Resistance : $3.75,$3.65
Major Resistance: $4.00, $4.095, $4.16

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This Next Week -Likely Volatile

Daily Continuation

Last week’s declines was expected, now we have a market that will be subject to thin volume and volatile swings during and around the next week. Would suggest sticking to the range from early Dec (as the market started to correct) and last week for the range to expiration ($4.40-$3.90).

I am taking the rest of the year off from the standpoint of publishing the Weekly and or Daily. Should something happen that effects the market from a technical perspective I will alert you to such implications. Other that that — Have a Merry Christmas and best wishes for 2026.

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Rally Runs Into Storage

Daily Continuous

Prices had a good run going into the storage report and then lost all momentum coming out. One reader had an interesting approach to trade mentioning that if you had been part of the rally two weeks ago and still had any positions on — it is more than likely you were leaving positions before the chopping volume associated with the holiday period (being so spread out next week). Interesting thought — no clue how to verify and quite honestly why did I even bring it up (irrelevant speculation). I get bored some times.

Major Support: $3.82, $3.75 $3.654,
Minor Support/Resistance : $3.75,$3.65
Major Resistance: $4.00, $4.095, $4.16

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Eventually Prices Will Rally

Daily Continuous

Not sure when we are going to run out of sellers but I can assure you after all the selling going on I will be interested in the open interest study late in the week to asses the new “short” positions. Until then, don’t try to catch the falling knife.

Major Support: $3.82, $3.75 $3.654,
Minor Support/Resistance : $3.75,$3.65
Major Resistance: $4.00, $4.095, $4.16

Lows Expanded

Daily Continuous

Mentioned in the Weekly area yesterday that the market might rally off of the $4 support area– was surprised that the support zone would be tested this early in the week. Is what it is — now the question remains does the price rally slightly from this support zone.

Major Support: $4.083,$4.055,
Minor Support/Resistance : $4.46-$4.42, $3.75,$3.65
Major Resistance: $4.901, $5.01, $5.325, $5.37