Infinity Insights – Volume 9, Issue 13

AT-A-GLANCE SUMMARY

The front of the curve for NYMEX natural gas continues to move sideways.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (May) has support at 2.65 then 2.50 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 $0.002 higher at $2.664.

unnamed

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 ended ≈$0.0175 higher at $2.755.

unnamed (1)

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 went out ≈$0.0175 higher at $2.6725.

unnamed (2)

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

unnamed (3)

The front of the curve for NYMEX natural gas continues to move sideways. The back of the curve, however, continues to be sold.Looking at ERCOT power, capacity over time loses value. Do the grid values decrease because of growing onsite generation including renewables? It looks that way to us but we could be wrong. Our answer is to monitor prices and highlight any anomalies.