Infinity Insights-Volume 10, Issue 14

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AT-A-GLANCE SUMMARY

NYMEX spot month natural gas (May) witnessed a volatile abbreviated trading week.

SUMMARY OF THE LAST WEEK IN CHARTS

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Spot month natural gas (May) has support at 1.70 then 1.60 with resistance at 1.90. Calendar year 2021 finds support at 2.45 with resistance at 2.60. Calendar year 2022 has support at 2.35 with resistance at 2.52.RoadmapNYMEX natural gas spot month (May) ended higher by $0.112at $1.733 compared to last Friday’s close.Calendar 2021Calendar 2021 finished ≤$0.08 better at $2.5925.Calendar 2022Calendar 2022 was higher by ≤$0.0635 at $2.4535.

OUR TAKE ON THE MARKET

NYMEX Natural Gas

NYMEX spot month natural gas (May) witnessed a volatile abbreviated trading week. The driver appears to be short covering as the rally saw significant open interest drop. Beyond the front of the curve, small increases to open interest suggest new buying.

WHOLESALE POWER

ERCOTPrices following natural gas.PJM

Prices following natural gas.

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