Category: Daily Call

Daily Continuous

If you are a trader you have to love this action. Prices decline to test the support level then immediately rebound. My question is where does this rally take prices to– stick with the range and the mini-range from last week for the resistance area just beyond $2.70.

Major Support: $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support:$2.52-$2.47, $2.38-$2.26, $2.17
Major Resistance $2.754, 2.816-$2.836, $3.00, $3.536, 3.59

Daily Continuous

Just when I made the comment about the boring aspects of the market it decides to break lower and test the support zone from the middle of June that has held the market since ($2.47). Now what happens — do the bears force declines to the $2.20area or does it find buyers for a short term bounce.

Major Support: $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support:$2.52-$2.47, $2.38-$2.26, $2.17
Major Resistance $2.816-$2.836, $3.00, $3.536, 3.59

Daily Continuous

Not much to see and little to do as prices remained dormant for the upcoming fall. Not enough volatility to make selling premium a strong option and no directional bias sounds like a recipe to go fishing. This may turn out to be the way the September contract plays out with no strong bias and just in a range. We shall see.

Major Support: $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support:$2.52-$2.47, $2.38-$2.26, $2.17
Major Resistance $2.816-$2.836, $3.00, $3.536, 3.59

Daily Continuation

Prices will be feeling out the variance in trader’s perspective in the coming weeks as the weather forecast have provided milder (but strong) demand for early August compared to the recent bullish forecasts last week. Historically, prices decline in general during early August before rallying– leading into the historically weak Labor day weekend. This year will b interesting to watch the outcome of a struggle between the fundamental day trade and the medium term trade (3-6 months).

Major Support: $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support:$2.52-$2.47, $2.38-$2.26, $2.17
Major Resistance $2.816-$2.836, $3.00, $3.536, 3.59

Daily Continuation

August expired at the low end of the recent range while the Sept contract found some footing and separated to the expiration contract behavior. Would continue to expect that Sept continues the recent continuation range and quite possibly the medium term range between $2.82- $2.45ish for its tenure as prompt. We shall see.

Daily Continuous

I should of gone fishing this week rather that repair my internet theft of passwords and account data. Either way the market seems in no mood to break out or down. Hate to say it but the range trade and selling premium is the way to work this.

After rising early in the week — prices reversed and challenged some of the intermediate term support levels from previous weeks. Though nothing has changed as to the current market environment, a bearish trade within a bullish long-term trend (higher lows since 2020), would expect additional tests of support prior to a rally but well within the 4 month range between $3.00 down to $2.00.

Major Support: $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support:$2.52-$2.47, $2.38-$2.26, $2.17
Major Resistance $2.816-$2.836, $3.00, $3.536, 3.59