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Natural Gas Futures: Room for further advance
Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the fourth consecutive session on Thursday, now by just 202 contracts. Volume, instead, shrank by around 42.3K contracts after two consecutive daily builds.
Natural Gas: Decent support emerges around $2.50
Thursday’s marked uptick in prices of natural gas was accompanied by a small increase in open interest, which seems to support the view that further gains appear on the table for the commodity in the very near term. In the meantime, the $2.50 region per MMBtu continues to emerge as a solid contention zone for the time being.
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