24
Apr

Wrap – Week Ended 4/23/21

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Holdings Watch:

  • Better week for the ZLT.
  • We closed one dry gas position and entered a new oil service name for us.
  • The Blotter is updated. 

OPEC+ is meeting on 4/28.  Modest downside to previously disclosed May/June de-curtailment plan is possible given record new daily Covid-19 cases being seen in India and rising cases in Latin America.  We view U.S. / Iran JCPOA chatter as unlikely to impact near term OPEC+ planned levels.

First week of the 1Q21 energy earnings season went as or better than expected. Report load picks up smartly this week. Please see the Calendar tab at upper left on the site for details.

Questions and comments under The Wrap will be addressed in the Monday post. Questions about the site can be directed to zman@zmansenergybrain.com.

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13 Responses to “Wrap – Week Ended 4/23/21”

  1. 1
    Zorgnak Says:

    Weekend Notes…
    XOP…Weekly Chart….Pulling back to well defined support (72.50) after this year’s rally off the lows..Needs to see buyers here at least back to major acceptance at 84.64(White dash) for a resumption of the trend.
    https://i.postimg.cc/d1HyKBDf/xopw.png
    Daily Chart
    https://i.postimg.cc/DyTfXSp8/xopd.png

  2. 2
    Zorgnak Says:

    BCEI..Range contraction at defined resistance at 31….
    https://i.postimg.cc/DZdP6JhB/bcei.png

    COP.Range contraction below resistance at 50.28…
    https://i.postimg.cc/CKfgRY0F/cop.png

  3. 3
    Zorgnak Says:

    OIH Breaking below April value area…
    https://i.postimg.cc/GhGQX5jX/oih.png
    SLB
    https://i.postimg.cc/GhGQX5jX/oih.png
    LBRT Sitting on major support at 10
    https://i.postimg.cc/7bvPL6Gr/lbrt-1.png

  4. 4
    Zorgnak Says:

    TAN Weekly Chart…all recent weekly closes were above long term acceptance at 86 and definded support…
    https://i.postimg.cc/g0JttKjr/tan-weekly.png
    TAN Daily Chart…Demand turning positive…looking for test of resistance at 93.64.
    For now appears to be basing.100 is far resistance if it keeps running.
    https://i.postimg.cc/4dwd4sZW/tandaily.png
    TAN Monthly….Mother of all bases….
    https://i.postimg.cc/CK20c5hT/tan.png

  5. 5
    Zorgnak Says:

    ARRY Demand volume picking up here…expecting a test of resistance at 30.74
    https://i.postimg.cc/XJct5Yz0/arry.png

  6. 6
    Zorgnak Says:

    QS ..Well defined area of interest at 40 (potential resistance and supply…..
    Major acceptance prior to the short seller piece at 49.38…
    https://i.postimg.cc/HLmmKR53/qs.png

  7. 7
    Zorgnak Says:

    FAN Resuming primary trend after first pullback?
    Weekly Chart
    https://i.postimg.cc/fyygwBCS/fan.png

    TPIC Daily Chart
    At key resistance…
    https://i.postimg.cc/1tQ3P4Fx/TPIC-1.png

    VWDRY Weekly Chart
    https://i.postimg.cc/vmDzxc9C/vwdry.png

  8. 8
    Zorgnak Says:

    STPK..
    Daily Chart…
    https://i.postimg.cc/28zX8jcN/stpk.png
    65 Minute Chart
    Strong volume demand and relative strength on the bounce off support…returning to major acceptance at 26.27
    https://i.postimg.cc/28zX8jcN/stpk.png

    GRID ETF…Breaking out, beginning a new leg up…
    https://i.postimg.cc/QMw1wmPd/grid-1.png

  9. 9
    Zorgnak Says:

    PLUG
    Daily Chart….Levels of interest well defined…Major resistance at 30…April value area low 24.50/Support…
    https://i.postimg.cc/CMjrCnBq/plug.png

  10. 10
    Zorgnak Says:

    NG Weekly (Continuous contract) Showing steady improvement in demand volume in multiple time frames….
    https://i.postimg.cc/wx2LdD1H/ng.png

    Daily NG….
    Back to previous acceptance.
    https://i.postimg.cc/yx2Vzf9v/ngdaily.png

  11. 11
    Zorgnak Says:

    Crude WTI Continues to consolidate above major acceptance and support at 57.50. Resistance at 65.50. Demand volume supportive…

    Daily
    https://i.postimg.cc/4d9GQ6jc/cl-daily.png
    Weekly
    https://i.postimg.cc/gc3dwKVF/clw.png

  12. 12
    Bill Potter Says:

    Thanks Zorgnak, super helpful as I’m planning out my investing week.

  13. 13
    Zorgnak Says:

    #12….Me too Bill…

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