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Natural Gas Futures: Extra gains in the pipeline
Considering flash data for natural gas futures markets, open interest rose by nearly 20K contracts on Wednesday, reaching the fifth consecutive daily build. Volume reversed two daily pullbacks in a row and went up sharply by around 454.7K contracts.
Natural Gas now targets $6.00
Wednesday’s acute advance in prices of natural gas was amidst rising open interest and volume, opening the door to the continuation of the uptrend in the very near term. That said, further upside could revisit the November 2021 highs near $5.90 per MMBtu (November 4).
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