Infinity Insights – Volume 8, Issue 29

AT-A-GLANCE SUMMARY

Spot NYMEX natural gas (September) rallied through resistance at $2.88, continuing to mid-$2.90s.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (September) has support at 2.86 then 2.76 with resistance at3.00. Calendar year 2019 has support at 2.77 with resistance at 2.85. Calendaryear 2020 has support at 2.60 with resistance at 2.65.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

Roadmap

NYMEX natural gas spot month (September) settled $0.091 higher at $2.944.

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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 firmed, closing at $2817, up ≈$0.06.

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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 up ≈$0.0365 at $2.656.

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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

Spot NYMEX natural gas (September) rallied through resistance at $2.88, continuing to mid-$2.90s. Price action has been orderly without much fireworks. Indicators signal an over-bought market, not to say prices can’t move higher, but rather any such action would be limited without new news.