Natural Gas Futures: Room For Further Decline

Considering advanced prints from CME Group for natural gas futures markets, open interest increased by around 2.8K contracts after two consecutive daily pullbacks on Friday. On the other hand, volume shrank for the fourth straight session, this time by around 11.2K contracts.
 

Natural Gas: Another visit to $2.00 should not be ruled out

Friday’s third consecutive drop in prices of natural gas was accompanied by rising open interest, which is indicative that further weakness could be in store for the commodity in the very near term. Against that, a potential revisit to the $2.00 region per MMBtu in the near term should not be disregarded just yet.


More By This Author:

USD Index Deflates To 104.60 On Mixed US NFP
USD Index Holds On Above 105.00 Ahead Of NFP
EUR/JPY Price Analysis: Extra Consolidation Appears Likely

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