Infinity Insights - Volume 12, Issue 35

AT-A-GLANCE SUMMARY

NYMEX spot natural gas (November) sold off to support at $6.50.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (November) support at 6.50 with resistance at 8.00. Calendar year 2023 finds support at 5.40 with resistance at 6.75. Calendar year 2024 has support at 4.50 with resistance at 5.50.

For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

Roadmap

NYMEX natural gas spot month (November) was lower by $0.062 at $6.766

Compared to last Friday’s close

Cal 2023
Calendar 2023 settled lower by ≈$0.2375 at $5.185

Cal 2024
Calendar 2024 closed down by ≈$0.04 at $4.68

The “Widow Maker” 2023

Volatility…

OUR TAKE ON THE MARKETS 

NYMEX Natural Gas
NYMEX spot natural gas (November) sold off to support at $6.50. The back of the curve fell $.70 to $1 from highs. The coming of winter likely offsets some of the immediate bearishness, suggesting that current lows will hold. These are values to capture.

WHOLESALE POWER

ERCOT

Natural gas continues to lead prices.

PJM

Natural gas continues to lead prices.