Infinity Insights – Volume 9, Issue 35

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas (November) made a key reversal on Thursday.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (November) has support at 2.35 then 2.25, with resistance at 2.45, then 2.60. Calendar year 2020 has support at 2.42 with resistance 2.58. Calendar year 2021 has support at 2.45 with resistance at 2.48.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

RoadmapNYMEX natural gas spot month (November) closed $0.042 lower at $2.362.

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 2020Calendar 2020 settled ≈$0.0025 better at $2.45.

What’s This? – “Cal 2020” 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 2021Calendar 2021 finished at $2.46, up ≈$0.0075.

What’s This? – “Cal 2021” 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 month NYMEX natural gas (November) made a key reversal on Thursday. Lower lows, higher highs, higher close. This formation is historically reliable and open interest has been growing. If a true signal, prices may trade sideways but should not violate 2.25.

WHOLESALE POWER

ERCOTAs the season moves into fall, the heat rates reflect the lower demand, not finding an upturn until the summer of 2020.PJMPJM heat rates reflect stronger demand as winter’s heating requirements loom.