Infinity Insights - Volume 10, Issue 47

AT-A-GLANCE SUMMARY
Spot month NYMEX natural gas (January) held lower end support in $2.40ish to $2.50ish area and rallied to $2.70ish resistance.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (January) support is 2.40 with resistance at 2.70 then 3.00. Calendar year 2021 finds support at 2.55 with resistance at 2.85, then 3.00. Calendar year 2022 has support at 2.55 with resistance at 2.85.

Roadmap

NYMEX natural gas spot month (January) finished at $2.765,
$0.07 higher than last Friday.

Calendar 2021
Calendar 2021 settled ≈$0.07 better at $2.765.

Calendar 2022
Calendar 2022 ended at $2.65, ≤$0.0375 higher.

OUR TAKE ON THE MARKET

NYMEX Natural Gas

Spot month NYMEX natural gas (January) held lower end support in $2.40ish to $2.50ish area and rallied to $2.70ish resistance. Trade has been light. The spread between calendar year 2021 and calendar year 2022 collapsed to flat but cal 2021 returned to premium with spot’s rally. Price action appears to be settling into pre-Christmas doldrums.

WHOLESALE POWER

ERCOT

Power continues to mirror natural gas price action.

PJM

Power continues to mirror natural gas price action.

We wish you the best of holiday cheer!
The next “Insights” will be issued on January 7th
Stay Safe!