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Natural Gas Futures: Corrective decline in the offing?
In light of advanced figures from CME Group for natural gas futures markets, open interest rose by around 19.5K contracts on Wednesday after seven consecutive daily drops. Volume, in the same direction, went up for the third straight session, now by more than 38K contracts.
Natural Gas: A drop to $2.00 appears on the table
Wednesday’s marked retracement in prices of the natural gas was accompanied by increasing open interest and volume. Against that, further decline appears favoured in the very near term and another visit to the $2.00 region per MMBtu should not be discarded for the time being.
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