20
Mar
Wrap – Week Ended 5/18/22
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The ZLT was up 2.8% last week, up on the week despite all the traditional energy ETF proxies closing down as our renewable segment and some of our oilier names closed higher. This will be a short Wrap as we got back from Spring Break a little later than expected. A few notables from the table below include the pop in heating oil which pushed the basic 3-2-1 crack back to recent history highs (>$36 per barrel!), the slight dip in the overly net long speculative crude position (still too high but better), and another drop in the frac spread count (seasonal and will be a short lived dip). More on these and other items in Monday's The Week That Was section.
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Questions under The Wrap will be addressed in the Monday post. Questions about the site may be directed to zman@zmansenergybrain.com
Look for a test email from our new contact management system on Tuesday.
Have a great rest of the weekend,
Z.
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CIVI High volume relative strength on Friday. Hanging at breakout levels/gap fill..Price and volume trends support higher..
March 20th, 2022 at 1:59 pmhttps://postimg.cc/68TDKZnR
TPIC Clears volume base above 16.19..Next major supply not until 21…
March 20th, 2022 at 2:03 pmhttps://postimg.cc/w1pzDp4M
SHLS Good example of price moving quickly through a low volume gap. Looks extended now but no defined resistance/heavy supply until 25.
March 20th, 2022 at 2:08 pmhttps://postimg.cc/hQc89hmM
PBW Clean Energy ETF..Strong volume rejection of previous value area…Next major resistance supply at 71.60
March 20th, 2022 at 2:12 pmhttps://postimg.cc/gXNyHmKW
ENPH Narrow range bar at breakout levels.
March 20th, 2022 at 2:34 pmhttps://postimg.cc/SY8Sp7xN
SND Through resistance on Friday…Next upside target at 3.72…short term support at 3.23
March 20th, 2022 at 2:39 pmhttps://postimg.cc/LhMLnyjT
Crude Oil
March 20th, 2022 at 3:05 pmDaily…Price uptrend intact. Demand volume positive. Support at 93.66…
https://postimg.cc/H8xBRBYF
Intraday Chart Tested short term resistance at 103.80 on Thursday and Friday
https://postimg.cc/HjqYpK5Y
Nat Gas….Uptrend intact. Broke above value on Thursday. Retested value area high on Friday. Demand volume supportive of higher..
March 20th, 2022 at 3:08 pmhttps://postimg.cc/PPHmC6nH
A number positive clean energy charts setting up.
March 20th, 2022 at 3:13 pmQS Base break above 17.61 with room to move to the low 19’s before supply sets in again…
https://postimg.cc/3y2GrpfN
Dips in Nat Gas stocks were bought..most look to be consolidating rather than culminating their moves…
CRK
Daily
https://postimg.cc/Y44HQzB2
Intraday..tested resistance at 9.52. Potential support at 9.20
https://postimg.cc/4nXXStzP
AR Consolidating with support at 24.50
March 20th, 2022 at 3:25 pmhttps://postimg.cc/2qLs1jnV
SWN
March 20th, 2022 at 3:28 pmDaily
https://postimg.cc/WtpPnVvf
Short term resistance at 5.57 Potential support at 5.32
https://postimg.cc/D8tDtk9h
Yemen Houthis attack Saudi energy facilities, refinery output hit
https://www.reuters.com/world/middle-east/saudi-led-coalition-says-four-houthi-attacks-hit-targets-kingdom-no-casualties-2022-03-19/
March 20th, 2022 at 7:13 pmWTI (May) Trying to breaking above last week’s value area in the early overnight session…Upside target at 109.22 If/When
March 20th, 2022 at 7:18 pmhttps://postimg.cc/Snt5bgg6
NAT Gas Trading at 4.93..above last month’s value area at 4.85. Above 4.94 breaks this years trading range highs…
March 20th, 2022 at 7:23 pmhttps://postimg.cc/xXYHTQ4Y
S&P Futs broke defined resistance on strong volume and breadth last week…Upside target value area highs 4540.
March 20th, 2022 at 8:24 pmhttps://postimg.cc/ZCVWxNqB