Natural Gas Futures: Further Advance In Store Near Term

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
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