Daily Call

Trade High Side of Recent Range

Daily Continuous

Storage report is upon us — got no clue about its ramifications — the market is trading at the high end of the recent range and perhaps a bullish surprise will send prices higher to test $3.00 but would not expect a major short covering rally off of it.

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

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Sunday Night Support

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.

Not a lot to add from the Weekly Analysis just noting that price chose to rally on Sunday night. Will be interesting to witness another rally failure returning prices back to the low end of the recent mini-range.

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

Consensus Remains Negative

Weekly Continuous

September tried to rally…recall that a continuation gap between $2.836 – $2.859 was expected to present significant resistance, but failed at the 10 – day SMA ($2.810) well short of filling the gap. That failed rally…with the lowest volume since late April, suggested a test of recent lows was in the cards. It did not take long. That test came with increasing volume but offers dried up as soon September traded through August’s pre expiration July low ($2.616 v $2.620). Another test on Friday was no more successful. After a trade to $2.617 September recovered to end the week at $2.662.

A modest recovery from that quick lower daily low and a new low daily close ($2.640 on 08/06, the lowest since April 28th) left a short – term bullish momentum divergence. The recovery triggered by the divergence (or vice versa) was minimal before the weekly close…which was lower, the lowest since the Friday before May expiration.

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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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