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Natural Gas Futures: Upside could take a breather
Considering advanced prints from CME Group for natural gas futures markets, open interest extended the downtrend for yet another session on Wednesday, this time by around 1.4K contracts. Volume, on the other hand, kept the erratic performance and advanced sharply by around 269.1K contracts.
Natural Gas meets resistance near $3.00
Prices of natural gas rose markedly and briefly surpassed the key $3.00 mark per MMBtu on Wednesday. The pronounced uptick, however, was amidst shrinking open interest, which also imposes a pause in the recent acute rebound, although the strong build in volume does not exclude another spike above the key $3.00 hurdle in the very near term.
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