Thursday, November 9, 2023 4:31 AM EDT
Open interest in natural gas futures markets extended the uptrend on Wednesday, this time increasing by nearly 16K contracts according to preliminary readings from CME Group. In the same direction, volume rose for the third straight session, now by around 43.3K contracts.
Natural Gas: Next support emerges at $3.00
Prices of natural gas dropped further on Wednesday amidst increasing open interest and volume. That said, the continuation of the ongoing correction appears well on the cards in the very near term and with immediate support at the key $3.00 mark per MMBtu.

More By This Author:
Gold Futures: Further Decline Looks Not Favoured EUR/USD Price Analysis: Further Weakness Could Revisit 1.0500 EUR/JPY Price Analysis: Rally Looks Unabated So Far
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
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 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.
less
How did you like this article? Let us know so we can better customize your reading experience.