Category: Daily Call

Daily Continuous

Prices opened Sunday fulfilling the expectation of lower prices during the expiration of the September contract as discussed in the Weekly area. Suggest reviewing those comments for not only the upcoming expiration, but also prices later in the year.

Major Support: $2.727, $2.648, $2.514
Minor Support :
Major Resistance:$2.843, $2.97-$2.99-$3.00, $3.061,$3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461,

Daily Continuous

Perhaps a brief response to the bearish date flooding the market, a small bounce took prices higher through the day. For bulls be cautious, for bears wait and and sell against any rally .

Major Support: $2.727, $2.648
Minor Support :
Major Resistance:$2.843, $2.97-$2.99-$3.00, $3.061,$3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461,

Daily Continuous

I guess the storage report today won’t be as bearish as last week’s as the market ran low on sellers yesterday. touching the lows from Tuesday — there was no momentum to push prices lower. I suspect that there will be additional downside momentum today if the report is more bearish that current expectations– unlike last week where the seller’s came in before and there were none left when the report was released (at expectations).

Major Support: $2.727, $2.648
Minor Support :
Major Resistance:$2.843, $2.97-$2.99-$3.00, $3.061,$3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461,

The new low for 2025 is now in the process of being completed as prices continued the declines and broke below previous trade lows. Can’t say if this softness is in anticipation of the storage data or just normal seasonal weakness around the Labor Day holiday– either way it is soft out there and few buyers currently. If you are an end-user (consumer of natural gas) you may want to look at the winter strip for gas as a hedge (perhaps Dec and Jan at least).

Major Support: $2.727, $2.648
Minor Support :
Major Resistance:$2.843, $2.97-$2.99-$3.00, $3.061,$3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501

Daily Continuous

Prices continue to challenge the lows but breakdowns receive support which isn’t allowing a dramatic breakdown to occur. Heading into a period of seasonal weakness, so I would not expect a variance to the current trade patterns.

Major Support: $2.97, $2.916-$2.895, $2.858, $2.808, $2.727, $2.648,
Minor Support :
Major Resistance:$2.97-$2.99-$3.00, $3.061,$3.192, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501

Daily Continuous

Prices tanked on Tuesday and showed no signs of rebounding yesterday. My only guess is that the storage release today must be very bearish with a significant injection but that is fundamental information, I don’t track such things. Perhaps that everyone one is suspecting bearish data, when they get the data, there are no more sellers. We shall see.

Major Support: $3.054-$3.007, $2.97, $2.727, $2.648,
Minor Support :
Major Resistance:$3.167, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501

Daily Continuous

Weekly Continuous

Wanted to show on both the Weekly and Daily charts the Death Cross formation (when the short term moving averages break below the long term averages) and responding to a question from one of the readers. While a bearish formation indicating the potential trend change, I chose not to highlight as the market seemed to be focused more on the ranges each contract had developed. Note on the Daily Chart a “cross” occurred last year and after a few days. Perhaps this year is different but I would not add significant short positions until the duration of impact is better defined.

Major Support: $3.054-$3.007, $2.97, $2.727, $2.648,
Minor Support :
Major Resistance:$3.167, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501

Daily Continuous

Declines continue but would hesitate to suggest adding to shorts until the range provided, break down. Look to the Weekly section for expectations for the declines and weekly bias.

Major Support: $3.054-$3.007, $2.97, $2.727, $2.648,
Minor Support :
Major Resistance:$3.167, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501

Daily Continuation

Gap open on Sunday night– looks like some folks want to challenge support trend lines and a series of recent lows. Be fun to watch the movement over the next week or so to see if the declines gain on momentum or just daily losses in little increments with little enthusiasm.

Major Support: $3.054-$3.007, $2.97, $2.727, $2.648,
Minor Support :
Major Resistance:$3.167, $3.25-$3.31,$3.39, $3.62, $4.168, $4.461, $4.501