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Natural Gas Futures: Extra gains not ruled out
Open interest in natural gas futures markets rose by around 4.3K contracts on Monday, reversing at the same time five consecutive daily pullbacks according to advanced prints from CME Group. On the other hand, volume extended the erratic performance and went down by nearly 190K contracts.
Natural Gas regains the 200-day SMA
Prices of natural gas started the week on a positive footing and regained the $4.00 mark per MMBtu amidst rising open interest. That said, further gains remain in the pipeline in the very near term at least. A sustainable break above the 200-day SMA at $4.22 should underpin that scenario.
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