Natural Gas Futures: Scope For Further Upside

Considering advanced prints from CME Group for natural gas futures markets, open interest set aside four consecutive daily drops and went up by around 1.3K contracts on Tuesday. Volume rose for the second straight session, this time by nearly 15K contracts.
 

Natural Gas: Next hurdle comes at $2.40

Natural gas extended the weekly recovery on Tuesday against the backdrop of increasing open interest and volume, exposing the continuation of the move for the time being. That said, there is an initial hurdle at the monthly high near the $2.40 mark per MMBtu, an area reinforced by the 100-day SMA.


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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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