Natural Gas Futures: Further Losses In The Pipeline
Considering advanced prints from CME Group for natural gas futures markets, open interest increased for the third consecutive session on Friday, this time by around 4.7K contracts. Volume, instead, dropped for the second session in a row, this time by nearly 70K contracts.1
Natural Gas now looks to another test of $3.00
Prices of natural gas continued to correct lower on Friday following recent multi-month tops near $3.50 (October 9). The downtick was on the back of increasing open interest and suggests that extra decline could be in store for the commodity in the very near term. Against that, another visit to the key $3.00 mark per MMBtu should not be ruled out for the time being.
More By This Author:
Crude Oil Futures: There Is Room For Further DeclineEUR/JPY Price Analysis: No Change To The Consolidative Theme
Natural Gas Futures: Correction In The Offing?
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