Infinity Insights – Volume 9, Issue 44

AT-A-GLANCE SUMMARY

Monday witnessed another gap, one that has since been filled.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (January) has support at 2.17 with resistance at 2.35. Calendar year 2020 has support at 2.28 with resistance 2.38. Calendar year 2021 has support at 2.42 with resistance at 2.50.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

RoadmapNYMEX natural gas spot month (January) closed at $2.296, off $0.038

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.

Calendar 2020Calendar 2020 ended the week ≈$0.01 lower at $2.293.

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.

Calendar 2021Calendar 2021 finished at $2.445 higher by ≈$0.0025,

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

NYMEX Natural GasWe often talk about technical signals as they provide us guidance on price trends. Recently, gaps have been a part of the discussion. Monday witnessed another gap, one that has since been filled.This may be an exhaustion gap, something that signals a reversal. Technically the market is oversold. A bounce would be expected. Will this prove to be the lows? Time (and weather) will tell.

WHOLESALE POWER

ERCOTNatural gas prices are leading the way, up and down. Heat rates remain at their high for Cal 2020, but defensive from 2021 back. ERCOT is further from the bottom than other jurisdictionsPJMPJM prices remain low (near all-time lows) and following natural gas as well.