Natural Gas Futures: Some Consolidation Appears On The Cards Near Term

Open interest in natural gas futures markets increased for the third straight session on Wednesday, no by more than 19K contracts according to preliminary readings from CME Group. On the other hand, volume shrank by around 27.5K contracts after two consecutive daily builds.

Natural Gas keeps targeting the sub-$2.00 region

Prices of natural gas attempted a mild bounce on Wednesday. The tepid uptick was accompanied by increasing open interest and declining volume, which should point to the emergence of some consolidation in the very near term. In the meantime, the 2023 low is in the sub-$2.00 region per MMBtu.

More By This Author:

EUR/USD Comes Under Pressure Near 1.0850
Crude Oil Futures: Upside Momentum Could Take A Breather
USD/JPY Keeps The Bearish Note Unchanged Around 131.00

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 ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.