04
Jul
Wrap – Week Ended 07/01/22
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We have been traveling. Enjoy the rest off the long weekend.
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Questions under The Wrap will be addressed in the Tuesday post.
Questions about the site may be directed to zman@zmansenergybrain.com
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04
Jul
This entry was posted on Monday, July 4th, 2022 at 9:25 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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Crude Futures
July 4th, 2022 at 3:45 pmRange bound between 109 and 122.
Daily
https://ibb.co/hV6Yvz8
65 Minute Chart…Short term resistance at 111. A break of the 111 level has an upside target 118.
https://ibb.co/M2FNXWQ
Nat Gas Futures Stabilizing at previous major acceptance. Low volume zone above leaves room for exaggerated moves in either direction. Defined resistance at 6.92 on a bounce, if when.
July 4th, 2022 at 3:59 pmDaily
https://ibb.co/2kWZmXM
65 Minute
Short term value range between 5.72 and 6.72. Range bound after a steep selloff. Looking for consolidation in this $1 range.
https://ibb.co/HXPCFf9
XLE Energy sector bounced back to major long term acceptance (77) and previous value lows after the extreme price and volume selling on 6/23. Pulled back to value area lows/support on lower volume. Very wide value range around major acceptance and likely price magnet at 77.
July 4th, 2022 at 4:12 pmDaily
https://ibb.co/QrhSLQV
65 Minute Short term support at 70. Resistance at 74.
https://ibb.co/pZvB6dG
XOP Similar to XLE. Back to very wide value range lows, 200 MA and low volume node support. Range bound in dense congestion going into July.
July 4th, 2022 at 4:24 pmDaily
https://ibb.co/xqVnLW5
65 Minute Short term value range support/resistance 118-128
https://ibb.co/34KK6n3
OIH Rejected major long term acceptance at 222 as too low twice now. Friday was a strong reversal bar. Bulls need to see a close above current value area lows at 241 as a next step in recovery. Trading into a low volume zone above that level. Expecting range bound volatility between the two major acceptance areas.
July 4th, 2022 at 4:44 pmDaily
https://ibb.co/n1Nnj4h
65 Minute
Broad Mkt.
July 4th, 2022 at 5:11 pmS&P Futures Rangebound in a downtrend. Value area highs/lows 4010/3633. Demand volume still negative. A break of the value area lows targets 3550. Well defined resistance and heavy supply above the value area highs.
Daily
https://ibb.co/xmf1W47
Solar ETF TAN
July 4th, 2022 at 5:29 pmRange bound below it’s previous yearly price/volume base. Demand volume supports test of long and short term value areas of interest around 75.
Daily 74.90 is the current value area high and major long term acceptance. A pivot point in a long grind higher.
Weekly Previous price volume base lows at 76. A weekly close above that level worth noting if accompanied with increased demand volume.
https://ibb.co/bRtcmPS
Thanks for the levels Zorg.
July 4th, 2022 at 5:37 pm