Infinity Insights-Volume 10, Issue 28

AT-A-GLANCE SUMMARY

After spot-month NYMEX natural gas (August) broke support at 1.70 but held at 1.60, then it rallied to 1.80

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (August) has support at 1.70 with resistance at 1.95. Calendar year 2021 finds support at 2.60 with resistance at 2.75. Calendar year 2022 has support at 2.40 with resistance at 2.55.

Roadmap
NYMEX natural gas spot month (August) closed at $1.808, $0.09 better versus the close of July 17.

Calendar 2021
Calendar 2021 finished at $2.6375, ≤$0.01225 firmer versus last Friday.

Calendar 2022
Calendar 2022 settled at $2.48, ≤$0.025 higher versus last Friday.

OUR TAKE ON THE MARKET

NYMEX Natural Gas

After spot-month NYMEX natural gas (August) broke support at 1.70 but held at 1.60, then it rallied to 1.80. It is nearing expiration and perhaps the approach of tropical disturbances prompted accelerated short covering. 2020 and 2021 calendar strips likewise crept through immediate support and likewise rallied. Regardless of the reasons, prices continue to offer value for procurement.

WHOLESALE POWER

ERCOT

Prices remain in a static configuration.

PJM

Prices continue to follow natural gas.