Infinity Insights – Volume 9, Issue 9

AT-A-GLANCE SUMMARY

Spot month NYMEX natural gas (April) moved sideways over the past week.

SUMMARY OF THE LAST WEEK IN CHARTS

Spot month natural gas (April) has support at 2.50 with resistance at 3.00. Calendar year 2020 has support at 2.72 with resistance 2.80. Calendar year 2021 has support at 2.62 with resistance at 2.67.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.

RoadmapNYMEX natural gas spot month (April) ended the week $0.006 higher at $2.865.

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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 19Calendar 2020 finished ≈$0.015 up at $2.7775.

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What’s This? – “Cal 19” 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 20Calendar 2021 settled ≈$0.0175 higher at $2.645.

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What’s This? – “Cal 20” 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 (April) moved sideways over the past week. Current weather appears priced in the market and forecasts look for warmer weather. It’s coming into spring so storms will be a part of things.Turning to ERCOT and prospects for this summer, there are concerns being expressed for adequate capacity. Last summer saw early concern as well and a corresponding rush to lock capacity, reaching extreme numbers before things settled down. We believe we’re in a transition from grid-dominated assets to micro grids and other load-specific sources of generation. It’s not the same market we’ve seen in the past.