Infinity Insights – Volume 8, Issue 25

AT-A-GLANCE SUMMARY

After failing $3.00 resistance, NYMEX spot month (August) has traded defensively.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (August) has support at 2.72ish then 2.60 with resistance at 2.88. Calendar year 2019 has support at 2.72, then 2.67 with resistance at 2.76. Calendar year 2020 has support at 2.65 with resistance at 2.69.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

Roadmap

NYMEX natural gas spot month (August) was lower by $0.106, closing at $2.752.

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What’s This? – The “Roadmap” is the price action chart depicting the NYMEX natural gas spot month. It’s important because it is essentially the trading community’s market sentiment.

Cal 19

Calendar 2019 settled at $2.73, off by ≈$0.05.

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What’s This? – “Cal 19” is the first complete 12-month strip. It gives you a visual of price action and provides a reference point for our take on the market.

Cal 20

Calendar 2020 closed at $2.657, down $0.017.

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What’s This? – “Cal 20” is the second complete 12-month strip. It gives you a visual of price action and provides a reference point for our take on the market.

OUR TAKE ON THE MARKET

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After failing $3.00 resistance, NYMEX spot month (August) has traded defensively. So far, support at $2.80s has been penetrated with $2.72ish then $2.60ish as next levels of support. Weather continues to provide direction.While natural gas is not dramatically volatile, ERCOT heat rates are, particularly in the front of the curve. Highs made in late May have lost ground through June, falling 10%+. However, recently, support has been evident. The feedstock (natural gas) is not the catalyst but rather the value (availability) of generation.Currently, there does not appear to be any reason for this trend to end.