Daily Call

Low End of Range into Storage

Daily Continuous

NEXT MONTH I WILL BE TURNING 70 YEARS OLD, AND I BELIEVE IT IS TIME FOR ME TO RETIRE MY WRITTEN SUBMISSIONS ON ECOMENERGY EFFECTIVE AUGUST 25TH. I WILL BE PROVIDING ANALYSIS FOR THOSE WHO WOULD LIKE AN ANALYSIS ON A LONGER TERM BASIS (MAJOR MARKET SHIFTS AND KEY TURING POINTS). FOR THOSE OF YOU INTERESTED IN THIS SERVICE, PLEASE CONTACT ME AT INFO@ECOMENERGY.COM. I WILL CONTINUE TO WRITE UP TO AUG 25TH BEFORE I LEAVE THE COUNTRY FOR A VACATION. CHECKING THE SUBSCRIPTION DATES — THIS SHOULD COINCIDE WITH THE VARIOUS RENEWAL DATES. SHOULD THERE BE ANY ISSUES, CONTACT ME AT INFO@ECOMENERGY.COM. THANK YOU FOR YOUR INTEREST AND BUSINESS OVER THE YEARS.

Here we sit at the low end of the recent range going into a storage release. Further breakdown will likely set up a test of the 2026 lows from April. A rally will run into problems at last week’s highs.

Major Support: $2.676, $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

Announcement

Weekly Continuous

NEXT MONTH I WILL BE TURNING 70 YEARS OLD, AND I BELIEVE IT IS TIME FOR ME TO RETIRE MY WRITTEN SUBMISSIONS ON ECOMENERGY EFFECTIVE AUGUST 25TH. I WILL BE PROVIDING ANALYSIS FOR THOSE WHO WOULD LIKE AN ANALYSIS ON A LONGER TERM BASIS (MAJOR MARKET SHIFTS AND KEY TURING POINTS). FOR THOSE OF YOU INTERESTED IN THIS SERVICE, PLEASE CONTACT ME AT INFO@ECOMENERGY.COM. I WILL CONTINUE TO WRITE UP TO AUG 25TH BEFORE I LEAVE THE COUNTRY FOR A VACATION. CHECKING THE SUBSCRIPTION DATES — THIS SHOULD COINCIDE WITH THE VARIOUS RENEWAL DATES. SHOULD THERE BE ANY ISSUES, CONTACT ME AT INFO@ECOMENERGY.COM. THANK YOU FOR YOUR INTEREST AND BUSINESS OVER THE YEARS.

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Changing

Daily Continuous

NEXT MONTH I WILL BE TURNING 70 YEARS OLD, AND I BELIEVE IT IS TIME FOR ME TO RETIRE MY WRITTEN SUBMISSIONS ON ECOMENERGY EFFECTIVE AUGUST 25TH. I WILL BE PROVIDING ANALYSIS FOR THOSE WHO WOULD LIKE AN ANALYSIS ON A LONGER TERM BASIS (MAJOR MARKET SHIFTS AND KEY TURING POINTS). FOR THOSE OF YOU INTERESTED IN THIS SERVICE, PLEASE CONTACT ME AT INFO@ECOMENERGY.COM. I WILL CONTINUE TO WRITE UP TO AUG 25TH BEFORE I LEAVE THE COUNTRY FOR A VACATION. CHECKING THE SUBSCRIPTION DATES — THIS SHOULD COINCIDE WITH THE VARIOUS RENEWAL DATES. SHOULD THERE BE ANY ISSUES, CONTACT ME AT INFO@ECOMENERGY.COM. THANK YOU FOR YOUR INTEREST AND BUSINESS OVER THE YEARS.

Clearly testing the support zones, patience should be the rule. More often than not, new prompt September trades its high in the early days of its tenure…last year on 07/30, but that tendency is not without exception. Given the close adherence of successive prompts to seasonal tendencies during most of ’26, expect September to follow suit but that expectation comes with a caveat. Would not expect the market to change a bias and therefore the cautious approach.

Major Support: $2.73, $2.676, $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

Storage Supports Run

Daily Continuation

The storage release supported the market for the first time in weeks and took prices back into the recent range as the September contract becomes prompt. Waiting to see how the market responds at the end of the week thereby setting up some technical analysis.

Major Support: $2.73, $2.676, $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

First Phase of Expectations Met

Daily Continuous

Discussed in the Weekly that prices were likely to extend declines–accomplished. Now what, Volume did not seem strong so I am sitting on the sidelines for adding to shorts.

Major Support: $2.73, $2.676, $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

Sunday Night Trade Confirms Expectations

Daily Continuation

Per the discussion in the Weekly Section, prices extended the lows on Sunday night trade. Would expect the declines to test the support levels $2.72-$2.78 before the expiration this week, but below the July expiration.

Major Support: $2.73, $2.676, $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

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Trade Suggests Lower Low for Aug

Weekly Continuous

Soon to expire August, which rallied from last week’s low of $2.823 to$ 2.991, traded back to back tight weekly ranges (last week $.145 from low to high…the tightest weekly range in memory, this week $.160) but was the only contract month to end the week with a loss. The consensus of technical indicators, which remained neutral (with a fluctuating bias) for the entire second calendar quarter, is negative for a second week.

The weekly MACD, our primary “lagging” indicator, which confirmed a negative calculation last week, is negative for a third week. The daily MACD, the daily and weekly RSIs are negative and are not yet giving extremely oversold warnings. Market internals are neutral. Average daily volume fell a little as August traded between support and resistance.

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What Next

Daily Continuous

A test of the resistance is very likely going into the storage release. Should the bulls carry prices further then the question becomes the break out level to the upside.

Major Support: $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

Last Week Low Tested

Daily Continuous

Prices continued to decline and tested last week’s low. This week will be instructive for near term trade– if prices hold or additional declines at a slow pace.

Major Support: $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

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Lower- But Still a Range

Daily Continuous

Go into the technical implications from last week’s trade in the Weekly Section– suffice to say we are now entering a new (lower) range environment, Would expect a test of the $3.10-$3.15 area if history is any guidance as a bump off of the recent selling and breakdown is warranted.

Major Support: $2.640-$2.57
Minor Support/Resistance : $2.87-$2.84, $3.16-$3.148, $3.136, $3.02-$2.97
Major Resistance: $3.35, $3.486-$3.494, $3.567, $ 3.736

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