Infinity Insights – Volume 9, Issue 18
AT-A-GLANCE SUMMARY
Spot NYMEX natural gas (June) remained in a trading range of 2.50 to 2.68ish.
SUMMARY OF THE LAST WEEK IN CHARTS
Spot month natural gas (June) has support at 2.50 with resistance at 2.68. Calendar year 2020 has support at 2.65 with resistance 2.74. Calendar year 2021 has support at 2.62 with resistance at 2.69.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.
RoadmapNYMEX natural gas spot month (June) finished the week $0.012 higher at $2.631.
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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 closed ≈$0.03 firmer at $2.745.
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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 up ≈$0.025 at $2.66.
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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
Spot NYMEX natural gas (June) remained in a trading range of 2.50 to 2.68ish. There is no immediately recognizable driver such as weather. Expectations are for more of the same.Speaking of weather, we are nearing the hurricane season and the “what ifs’ that accompany it. We remind that hurricanes are usually bearish ultimately. The temperature cools and facilities shut down. There are those bullish episodes when real damage occurs (a la Katina and Rita). Henry Hub was underwater and declared force majeure. Regardless, markets usually spike up when production is challenged (offshore GOM), then sell off. Avoiding panic is objective.Helpful links: