Friday, February 10, 2023 4:22 AM EST
Open interest in natural gas futures markets prolonged the uptrend and rose by just 197 contracts on Thursday according to preliminary readings from CME Group. In the same line, volume extended the erratic performance and went up by around 26.6K contracts.
Natural Gas now moved into a consolidative phase
Prices of natural gas advanced marginally on Thursday. This uptick was accompanied by another increase in open interest and volume, exposing some extra gains near term. This view also appears reinforced by the current oversold conditions of the commodity.
More By This Author:
EUR/USD Flirts With 3-Day Highs Near 1.0770EUR/GBP Drops To Weekly Lows Near 0.8870 EUR/JPY Price Analysis: Further Consolidation In The Pipeline
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
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 only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
less
How did you like this article? Let us know so we can better customize your reading experience.