11
Jul

Wrap – Week Ended 07/09/21

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Noise filled but summer type volumes week.  We used the time to read, write and add on weakness in a couple of places.

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Holdings Watch:

Questions and comments under The Wrap will be addressed in the Monday post.

Questions about the site can be directed to zman@zmansenergybrain.com

Have a good weekend,

Z

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4 Responses to “Wrap – Week Ended 07/09/21”

  1. 1
    Zorgnak Says:

    Crude Oil Futures…
    Breaking above June value highs at 74.16 after becoming oversold on an intraday basis …..demand volume supports higher…73 is the nearby level of interest
    73 it is both major acceptance and July value area low. Bulls in charge above that area…Term structure remains elevated without reversing much yet….
    https://i.postimg.cc/Xvh9PY7C/cl.png

    XLE Energy sector ETF bounced off defined support in the low 51s. Demand volume positive intraday butbBulls need to see another day of follow through on price/volume/and breadth above 52.48 .
    https://i.postimg.cc/xdtbrTfR/xle.png

    XOP Bounced off several well defined support levels. Needs to see demand volume continue to turn up. If it does I expect to see a retest of previous acceptance at 97…Group gave a reliable breadth trade signal as well…(when more than 80% of stocks are above their 200 MA and 30% of stocks are below their 10 Ma and turn up above 30%)
    XOP Daily
    https://i.postimg.cc/ZRpwmMRj/xop-2.png
    XOP Breadth Charts
    https://i.postimg.cc/4NNQ2dzW/xopbreadth.png

  2. 2
    Zorgnak Says:

    OIH Bounced where it needed to and tested key resistance at 215.. Needs demand volume and breadth expansion to take out 215 and get above the 50 MA…
    https://i.postimg.cc/dVkzxvdT/oih-3.png
    Breadth Chart ..Same parameters as the XOP chart..works best when group/sector is above it’s 52 MA..
    https://i.postimg.cc/k55wpvLY/oihbreadth.png

  3. 3
    Zorgnak Says:

    BCEI Consolidation above near support and July value area low at 45.81. Break of that level has a volume gap to next support/May value highs around 43.84…A bullish move would start with a move above major acceptance at 48.50…next breakout would start with a move above 49.75..
    https://i.postimg.cc/RCnkVvqC/bcei-1.png

  4. 4
    Zman's Energy Brain ~ oil, gas, stocks, etc… » Blog Archive » Monday Morning Says:

    […] Wrap – Week Ended 07/09/21 12 […]

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