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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Weekend Notes…
April 25th, 2021 at 9:23 pmXOP…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
BCEI..Range contraction at defined resistance at 31….
https://i.postimg.cc/DZdP6JhB/bcei.png
COP.Range contraction below resistance at 50.28…
April 25th, 2021 at 9:26 pmhttps://i.postimg.cc/CKfgRY0F/cop.png
OIH Breaking below April value area…
April 25th, 2021 at 9:27 pmhttps://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
TAN Weekly Chart…all recent weekly closes were above long term acceptance at 86 and definded support…
April 25th, 2021 at 9:28 pmhttps://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
ARRY Demand volume picking up here…expecting a test of resistance at 30.74
April 25th, 2021 at 9:29 pmhttps://i.postimg.cc/XJct5Yz0/arry.png
QS ..Well defined area of interest at 40 (potential resistance and supply…..
April 25th, 2021 at 9:29 pmMajor acceptance prior to the short seller piece at 49.38…
https://i.postimg.cc/HLmmKR53/qs.png
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
April 25th, 2021 at 9:42 pmhttps://i.postimg.cc/vmDzxc9C/vwdry.png
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…
April 25th, 2021 at 10:02 pmhttps://i.postimg.cc/QMw1wmPd/grid-1.png
PLUG
April 25th, 2021 at 10:16 pmDaily Chart….Levels of interest well defined…Major resistance at 30…April value area low 24.50/Support…
https://i.postimg.cc/CMjrCnBq/plug.png
NG Weekly (Continuous contract) Showing steady improvement in demand volume in multiple time frames….
https://i.postimg.cc/wx2LdD1H/ng.png
Daily NG….
April 25th, 2021 at 11:22 pmBack to previous acceptance.
https://i.postimg.cc/yx2Vzf9v/ngdaily.png
Crude WTI Continues to consolidate above major acceptance and support at 57.50. Resistance at 65.50. Demand volume supportive…
Daily
April 25th, 2021 at 11:32 pmhttps://i.postimg.cc/4d9GQ6jc/cl-daily.png
Weekly
https://i.postimg.cc/gc3dwKVF/clw.png
Thanks Zorgnak, super helpful as I’m planning out my investing week.
April 26th, 2021 at 12:20 am#12….Me too Bill…
April 26th, 2021 at 12:51 am