Natural Gas Futures: A Sustained Decline Is Not Favored

Open interest in natural gas futures markets noted traders scaled back their open interest positions for the fourth straight session on Wednesday, now by around 22.6K contracts. Volume, instead, resumed the uptrend and went up by nearly 48K contracts.
 

Natural Gas remains well supported at around $2.00

Wednesday’s daily retracement in prices of natural gas was in tandem with rising open interest, which removes strength from further retracement in the very near term. In the meantime, the 2023 low near $1.97 per MMBtu continues to emerge as a solid contention for the time being.


More By This Author:

Natural Gas Futures: Extra Advances Look Out Of Favor
Natural Gas Futures: Extra Gains Seems Unlikely
Natural Gas Futures: Room For Further Upside

Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with