Natural Gas Futures: Scope For Further Correction

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second session in a row on Friday, now by nearly 8K contracts. Volume, instead, dropped for the third straight session, this time by more than 2K contracts.
 

Natural Gas: Upside remains capped at around $3.00

Natural gas prices rose to fresh monthly tops near the $3.00 mark before ending Friday’s session with modest losses. The move was amidst rising open interest and opens the door to further correction in the very near term. That said, the $3.00 region per MMBtu remains a tough barrier for natural gas bulls for the time being.


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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 ...

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