Infinity Insights – Volume 8, Issue 41

AT-A-GLANCE SUMMARY

Since the gap higher trade of November 5th, spot NYMEX prices have been in a $4 to $5 range with the back of the curve uninvolved.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (January) has support at 3.90 then 3.55 with resistance at 5.00. Calendar year 2019 has support at 3.00 with resistance at 3.25. Calendar year 2020 has support at 2.67 with resistance at 2.73.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

Roadmap

NYMEX natural gas spot month (January) closed at $4.612,

higher by $0.321 compared to close of 11/16/18.

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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 finished up ≈$0.13 at $3.21.

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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 firmer by ≈$0.005 at $2.67.

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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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Since the gap higher trade of November 5th, spot NYMEX prices have been in a $4 to $5 range with the back of the curve uninvolved. Movement up front turns, as one might suspect, with expectations of cold or warm incursions. The balance of winter months (January, February, and March) track higher pricing with the “Widow Maker – March/April spread” at its widest delta:After the dramatic run up, spot NYMEX natural gas has been triangulating:The market will likely provide next signal.when the price action breaks out, either up or down.