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Natural Gas Futures: Further consolidation on the cards
Considering advanced prints from CME Group for natural gas futures markets, open interest dropped for the second session in a row on Monday, this time by just 732 contracts. In the same line, volume went down for the fourth straight session, now by around 23.8K contracts.
Natural Gas: Initial support emerges around $2.60
Prices of natural gas added to Friday’s uptick at the beginning of the week against the backdrop of declining open interest and volume. That said, further upside now appears unlikely, giving way to further range bound trade in the very near term and with initial contention around the $2.60 region per MMBtu.
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