Infinity Insights – Volume 8, Issue 38
AT-A-GLANCE SUMMARY
NYMEX natural gas spot month (December) continued to trade between 3.40 and 3.10, trading defensively for the most part.
SUMMARY OF THE LAST WEEK IN CHARTS
Spot month natural gas (December) has support at 3.10 then 3.00 with resistance at 3.25 then 3.45. Calendar year 2019 has support at 2.78 with resistance at 2.92. Calendar year 2020 has support at 2.60 with resistance at 2.69.For a look at our monthly market reports, visit Infinity Power Partner’s Market Overview.
Roadmap
NYMEX natural gas spot month (December) was lower by $0.084 at $3.225.
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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 19
Calendar 2019 closed off ≈$00675 at $2.8325.
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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 20
Calendar 2020 finished down ≈$0.025 at $2.665.
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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
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NYMEX natural gas spot month (December) continued to trade between 3.40 and 3.10, trading defensively for the most part. This range has been evident since the first of October. Currently, price action appears “toppy.” Will prices head lower? We are waiting until the discussed range is violated.ERCOT power continues to trade firmer up front and weaker in the deferred tenors (terms). Heat rates are moving higher:Learn more about IPP’s approach:http://www.infinitypowerpartners.com/wp-content/uploads/2015/08/Understanding-Infinity-Insights-A-Users-Guide1.pdf
The next “Insights” will be released November 8th