15
May
Wrap – Week Ended 05/13/22
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Poor week last week with traditional energy deepening valuation discount largely due to flash crash type action on Monday. We see the names as far from discount current or strip pricing.
Free Stuff Last Week: None
Holdings Watch:
- We added to one oily and two gassy names last week.
- The blotter is updated.
Other Stuff:
- Look for the Gassy Players update in the Tuesday post.
- Look for a Gassy Macro update later this week.
Questions and comments under The Wrap will be addressed in the Subscriber Mailbag section of the Monday post.
Questions about the site may be addressed to zman@zmansenergybrain.com.
Have a good weekend,
Z
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Broad Market S&P Futs got a reversal bar at 3900 last week. The bounce into the volume gap was the easy move. Any follow through has long and short term supply issues starting at 4050.
https://ibb.co/8bh1yyc
4050 is value area low for the year and this weeks first resistance level.Failure there has a long way to next major support.
May 15th, 2022 at 11:35 amWeekly
https://ibb.co/4sNWWSb
65 Minute
https://ibb.co/LnQtsS3
XLE Consolidation and attempt to break above value on Friday. Relative strength to the market continues. Demand volume supports higher.
May 15th, 2022 at 11:42 amDaily
https://ibb.co/QfSWwBP
Weekly Heavy volume reversal bars at 75 (previous long term acceptance) on both retests.
https://ibb.co/Wz8wGVS
OIH Defined resistance at 275…Demand volume still weak, inconsistent with down day volume above average.
May 15th, 2022 at 11:51 amhttps://ibb.co/pntVzd7
XOP Resistance at 133.63. Choppy range bound trading below 145
Daily
https://ibb.co/ys6h0G5
PBW Clean energy ETF. High volume (+ 200%) reversal bar at previous long term acceptance. Major downtrend still in effect. Daily demand volume trying (once again ) to make the turn.
Weekly
https://ibb.co/JkTRLQs
TAN bounce off previous acceptance for the third time this year. 65.46 resistance. Demand volume still trending down, turning.
May 15th, 2022 at 12:02 pmDaily
https://ibb.co/NynK1GD
NFE Looks set to reject major acceptance at 42as too low with a move above 44.75, if/when. Not a clean break as it’s still trading/moving in longer term congestion.
May 15th, 2022 at 2:20 pmDaily
https://ibb.co/kK1dLJz
Weekly shows 54 as the long term breakout level.
https://ibb.co/FBsnn5q
CIVI Looks ready to test a breakout above recent value area highs above 63.83
May 15th, 2022 at 2:22 pmhttps://ibb.co/cTM5svc
Crude Opened up and out of balance, currently trading at 111.23..Do I hear 115?
May 15th, 2022 at 5:31 pmOvernight
https://ibb.co/YW4tNWm
Daily Uptrend breakout out of previous value highs…Demand volume supports higher.
Daily
https://ibb.co/MfKpCkh
Thanks for the looks Zorg.
May 15th, 2022 at 7:06 pmthanks Zorg
May 16th, 2022 at 12:19 am