Prices of natural gas printed decent gains on Tuesday in tandem with increasing open interest and volume, which exposes a near-term bounce, although always against the backdrop of the current consolidative fashion.
Open interest in natural gas futures markets increased for the fourth consecutive day on Tuesday, this time by nearly 21K contracts, the largest single-day build since February 1. In the same line, the volume went up by around 146.7K contracts, reversing at the same time three consecutive daily pullbacks.
Natural Gas looks side-lined for the time being
Prices of natural gas printed decent gains on Tuesday in tandem with increasing open interest and volume, which exposes a near-term bounce, although always against the backdrop of the current consolidative fashion. So far, the commodity remains stuck within the $2.00-$3.00 MMBtu range for the time being.
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.
Comments
Log in or sign up to join the conversation.