Category: Daily Call

Where Be the Support

Daily Continuous

That was a weak week as prices declined each and every day — not were headed near the extreme area on the RSI chart, as discussed in the Weekly section. How far it goes is anyone’s guess but this will be a key week. The open last night was weaker but found some support off of the opening– but we will see when the demand and supply effects from the hurricane hit the market.

Major Support:, $1.52-$1.511, $1.481, $1.312
Minor Support : $2.41-$2.31, $2.168, $2.12, $2.00, $1.967- $1.94
Major Resistance: $2.44-$$2.502, $2.618, $3.00, $3.16

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Soft Weekly Close — Key Cross-Overs Coming

Daily Continuation

Prices closed the week on the August lows and concluded that the Q2 high was confirmed with the double top ( July Contract) discussed previously. We are headed into a historically weak period of the year (Q3 lows) that have been discussed here for several years. Brought to attention some of the issues and ancillary technical problems that could effect the market in the coming months in the Weekly section. The market has placed itself at a important level and now will need to define the key support for the coming month.

Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312
Minor Support : $2.64, $2.448, $2.168, $2.12, $2.00, $1.967- $1.94
Major Resistance: $3.00, $3.16

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No Such Weakness — Yet

Daily Continuous

Little weakness yesterday as prices firmed after a Sunday night decline. Posting a gain it will be interesting to see if the strength continues through the full expiration process. Discussed the historical aspect of the recent expiration’s in the Weekly section so how the market behaves will provide some insight as to the future of natural gas prices.

Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312
Minor Support : $2.64, $2.448, $2.168, $2.12, $2.00, $1.967- $1.94
Major Resistance: $3.00, $3.16

Oops — Got Caught

Daily Continuous

Ok, I confess, wrote yesterday’s Daily thinking I would roll it over to today’s — little did I know that prices were going to drop into the low end of the range. — Was not going to update (limited internet sources) but have decided to use my mobile hot spot on the phone. Nothing has changed except that prices declined to the low end of the range regardless of Storage.

Storage release should give us one of two options — if it is bullish to expectations, prices are likely to test the double top of the July contract seen below:

Daily Prompt July Contract

On the other side of the expectation potential will be a bearish report sending price back to the low of the July trading range (down to $2.70-$2.50).

Major Support:, $1.595, $1.52-$1.511, $1.481, $1.312
Minor Support : $2.944, $2.64, $2.448, $2.168, $2.12, $2.00, $1.967- $1.94
Major Resistance: $3.00, $3.16

Storage Should Provide Future Bias

Daily Continuous

Storage release should give us one of two options — if it is bullish to expectations, prices are likely to test the double top of the July contract seen below:

Daily Prompt July Contract

On the other side of the expectation potential will be a bearish report sending price back to the low of the July trading range (down to $2.70-$2.50).

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