Prices of natural gas reversed part of the previous weakness on Friday. The recovery came amidst increasing open interest and volume and suggests that further rebound could be in store for the commodity in the very near term.
In light of advanced prints from CME Group for natural gas futures markets, open interest extended the uptrend and rose by around 11.2K contracts on Friday. Volume, in the meantime, increased by around 170.4K contracts, resuming the uptrend following the previous daily pullback.
Natural Gas: Immediate up-barrier comes at $2.50
Prices of natural gas reversed part of the previous weakness on Friday. The recovery came amidst increasing open interest and volume and suggests that further rebound could be in store for the commodity in the very near term. Against that, the next resistance level of note comes at the April top at $2.529 per MMBtu.
Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Comments
Log in or sign up to join the conversation.