Prices of natural gas rose for the second session in a row on Monday. The improvement in the price action came amidst diminishing open interest and volume and is indicative that extra gains lack conviction for the time being.
CME Group’s flash data for natural gas futures markets noted traders trimmed their open interest positions by nearly 2K contracts on Monday after four consecutive daily builds. Volume followed suit and went down by around 75.4K contracts, partially reversing the previous daily advance.
Natural Gas remains stuck within the range-bound theme
Prices of natural gas rose for the second session in a row on Monday. The improvement in the price action came amidst diminishing open interest and volume and is indicative that extra gains lack conviction for the time being. So far, the commodity’s upside remains capped by the $2.50 region 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.