Paramount and Shiningbankfrom ChartWorks:: published by Institutional Advisors
Natural gas ($7.40) is anticipated to find good resistance in the $9 to $9.50 range into December. The gassy trusts (i.e. Fairborne, Focus, Paramount, Peyto, Progress, Shiningbank, Trilogy) continue to offer an excellent means of participating in the commodity action. The measured technical targets for the initially seasonally strong period into the mid September-October storm season are $24.25 to $24.85 for Paramount and $28.30 to $29.70 for Shiningbank. Key support levels are $19 and $21 respectively.
Barring any major damage to production out of the gulf we continue to view the $75 to $76 level as good resistance for crude oil as we move through September.
The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance.
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August 6th, 2020
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