Infinity Insights - Volume 10, Issue 37

Written By Guest User

AT-A-GLANCE SUMMARY
October NYMEX natural gas expired on Monday with November rolling in as new spot month.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (November) support is 2.40 with resistance at 3.00. Calendar year 2021 finds support at 2.80 with resistance at 3.00. Calendar year 2022 has support at 2.55 with resistance at 2.70.

Roadmap

NYMEX natural gas spot month (November) ended at $2.438, $0.369 lower
versus the close of last Friday.

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Calendar 2021
Calendar 2021 closed at $2.854, ≤$0.12 weaker versus last Friday.

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Calendar 2022
Calendar 2022 closed at $2.6125, ≤$0.035 off compared to last Friday.

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OUR TAKE ON THE MARKET

NYMEX Natural Gas

October NYMEX natural gas expired on Monday with November rolling in as new spot month. The balance of 2020 curve is contangoed and November fell sharply from the 2.75 level. No weather demand and plentiful supply are mentioned as reasons. The curve from 2021 out likewise retreated with little feature.

Technically, November looks to be in a 3.00 to 2.40 range. Calendar 2021 is bounded by 3.00 to 2.75. The spot continuation chart leaves room for further gap filling but not dramatic.

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WHOLESALE POWER

ERCOT

Wholesale power is higher upfront with natural gas. Heat rates are static.

PJM

Wholesale power traded higher with natural gas and pulled back at end of the week.

Stay Safe!

Guest User
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