Infinity Insights – Volume 9, Issue 45
AT-A-GLANCE SUMMARY
Mixed weather forecasts have resulted in spot month NYMEX natural gas (January) prices trading between 2.35 and 2.17.
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 $2.328, higher by $0.032
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 ≈$0.0265 better at $2.32.
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 closed at $2.422 down by ≈$0.0023,
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 GasMixed weather forecasts have resulted in spot month NYMEX natural gas (January) prices trading between 2.35 and 2.17. Next week, holiday plans will take many participants away, opening the door for boring sideways trade with perhaps light volume surprises. It’s a time for evening up books and last-minute adjustments.
WHOLESALE POWER
ERCOTPower prices have retreated with natural gas. The front of the curve has the highest volatility with a little over three months of winter remaining.PJMWeather moderation has kept prices near lows. Weather surprises would likely move the market either way, but, without surprises, will generally remain flat with calendar strips narrowing together.
Happy Holidays from IPP toyou and your family
The next Infinity Insights will be sent out on 1/10/20!