- Analytics
- News and Tools
- Market News
- Natural Gas: Corrective downside on the cards
Natural Gas: Corrective downside on the cards
Considering advanced figures from CME Group for natural gas futures markets, open interest shrank for the second session in a row, this time by around 5.7K contracts on Monday. Volume followed suit and went down for the second straight session, now by more than 34K contracts.
Natural Gas now looks to $8.30
Prices of natural gas continues to navigate extreme overbought levels. The commodity reached new cycle tops on Monday further north of the $8.00 mark per MMBtu, although the move was against the backdrop of shrinking open interest and volume. That said, a correction is long overdue, while further gains now target the September 2008 high around $8.30.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
