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Natural Gas Futures: Extra losses in the pipeline
Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the fourth session in a row at the beginning of the week, this time by around 24.3K contracts. In the same line, volume went up by around 180.1K contracts after three consecutive daily pullbacks.
Natural Gas: Next on the downside emerges $2.90
Prices of natural gas extended the corrective decline on Monday against the backdrop of increasing open interest and volume, allowing for the continuation of the ongoing decline in the very near term. That said, the next support is now seen at the mid-October lows around the $2.90 region per MMBtu.
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