Infinity Insights – Volume 9, Issue 23
AT-A-GLANCE SUMMARY
Spot NYMEX natural gas traded above support at $2.18, ending the week higher than last Friday.
SUMMARY OF THE LAST WEEK IN CHARTS
Spot month natural gas (August) has support at 2.18, with resistance at 2.41. Calendar year 2020 has support at 2.50 with resistance 2.66. Calendar year 2021 has support at 2.58 with resistance at 2.63.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.
RoadmapNYMEX natural gas spot month (August) ended higher by $0.139, closing at $2.308.
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 settled ≈$0.03 better at $2.535.
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 closed ≈$0.03 lower at $2.5825.
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 traded above support at $2.18, ending the week higher than last Friday. Trade is usually quiet until the close when very large volumes may show up.We suspect that prices will stay within a range roughly defined by $2.18 and $2.41, then $2.56. Break outs or break downs from this range likely precipitated by weather extremes should they occur bounded by $3 and $2.
