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- Natural Gas Futures: Further pullbacks not ruled out
Natural Gas Futures: Further pullbacks not ruled out
Considering flash data from CME Group for natural gas futures markets, open interest shrank for the second straight session on Tuesday, now by nearly 24K contracts. Volume followed suit and resume the downside, this time by more than 106K contracts.
Natural Gas looks supported by the 200-day SMA ($4.20).
Tuesday’s small gains in prices of natural gas was accompanied by shrinking open interest and volume, leaving the idea for further retracements on the table for the time being. Extra losses are expected on a convincing breakdown of the 200-day SMA around the $4.20 mark per MMBtu.
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