On Thursday, TotalEnergies SE (NYSE:TTE) announced it shipped the first LNG cargo from the ECA LNG export terminal in Baja California, Mexico, marking a key milestone as the facility nears commercial operations. The company owns a 16.6% stake in the project and will offtake 1.7 million tonnes of LNG annually for 20 years once operations begin. Separately, TotalEnergies completed the sale of its distributed solar assets in Europe, exiting that business to focus on larger utility-scale solar and wind projects without slowing its renewable energy expansion.Critical Price Levels To Watch For TTEIn premarket trading, the broader tape is leaning risk-on with S&P 500 futures higher. Currently, TTE is slightly red—suggesting the move is more about near-term positioning and levels than a negative read-through on the LNG update.At $78.69, TTE is trading below its short- and medium-term trend gauges—about 2.7% below the 20-day SMA ($80.91) and 9.2% below the 50-day SMA ($86.71)—which keeps rallies vulnerable to selling pressure until those averages are reclaimed. The longer-term backdrop is still constructive with the stock 4.4% above the 200-day SMA ($75.34), and the 50-day SMA remains above the 200-day SMA (a golden cross that occurred in July 2025).Momentum is best framed by MACD right now: MACD is above its signal line and the histogram is positive, which points to improving momentum versus the prior downswing even if price hasn’t fully repaired the trend. In plain English, when MACD is above its signal line, it often means downside pressure is easing and buyers are starting to win more of the day-to-day battle.From a levels perspective, the upside "prove it" area is still higher on the chart, while downside risk is defined by the prior low zone.