Infinity Insights – Volume 9, Issue 12

AT-A-GLANCE SUMMARY

The sideways walk continues.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (May) has support at 2.65 with resistance at 2.90. Calendar year 2020 has support at 2.72 with resistance 2.78. Calendar year 2021 has support at 2.62 with resistance at 2.67.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

RoadmapNYMEX natural gas spot month (May) ended the week $0.105 lower at $2.662.

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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 20Calendar 2020 finished ≈$0.03 lower at $2.7375.

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What’s This? – “Cal 20” 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 21Calendar 2021 settled ≈$0.005 at $2.655.

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What’s This? – “Cal 21” 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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The sideways walk continues. Spot NYMEX natural gas (May) made new recent lows but remains within $.50 range (3.00 – 2.50). Trading at the back of the curve was likewise uneventful. Our expectations are for more of the same.Turning to ERCOT power, heat rates continue to move lower.