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Bear Crossing

November 15, 2021

Bear Crossing

It’s too warm to hibernate. The 50-day exponential moving average is a proven indicator, and several natural gas and power calendar strips have crossed below this level or appear poised to do so. Current price action is bearish, either at, or below the 50-day EMA for the following peak calendar strips:

Natural Gas

  • Algonquin Citygate: ‘22, ’24
  • Transco Zone 6: ‘22, ’24
  • Tetco M3: ’22, ’24
  • Chicago Citygate: ’22
  • Houston Ship Channel: ‘22, ‘24

Electricity

  • NEPOOL: ‘22, ’24
  • ERCOT Houston: ’22, ‘24