Natural Gas Futures: Extra Rebound Seems Not Favored

Considering advanced prints from CME Group for the natural gas futures market, open interest resumed the downtrend and shrank by more than 8K contracts on Thursday. On the other hand, volume rose by more than 63K contracts amidst the ongoing erratic performance.
 

Natural Gas looks under pressure while below $3.00

Thursday’s advance in prices of natural gas was on the back of shrinking open interest, which seems to indicate that the continuation of the recovery is not favored in the very near term. In the meantime, occasional bullish attempts remain capped by the $3.00 mark per MMBtu.


More By This Author:

EUR/JPY Price Analysis: Bulls Continue To Target 160.00
Natural Gas Futures: Door Open To Extra Losses
USD Index Price Analysis: Further Up Comes 104.70

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