Wednesday, August 30, 2023 3:56 AM EST
Open interest in natural gas futures markets reversed the previous daily drop and went up by nearly 12K contracts on Tuesday according to preliminary readings from CME Group. Volume, instead, shrank by around 41.6K contracts, partially setting aside the previous daily build.
Natural Gas faces the next-up barrier at $3.00
Prices of natural gas extended the weekly uptrend on Tuesday. The move was on the back of increasing open interest and is indicative that extra gains appear in the pipeline for the commodity in the short-term horizon. That said, the next resistance emerges at the key $3.00 region per MMBtu.
More By This Author:
USD Index Price Analysis: The Hunt For 104.70 Natural Gas Futures: Extra Gains Appear Likely USD Index Price Analysis: Attention Now Shifts To 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
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.