Considering advanced prints from CME Group for natural gas futures markets, open interest remained choppy and went up by around 19.5K contracts on Thursday. In the same direction, volume resumed the uptrend and increased by around 32.4K contracts.
Natural Gas: Next on the downside comes $2.600
Prices of natural gas seems to have entered a consolidative phase in the lower end of the monthly range. Thursday’s inconclusive price action came in tandem with rising open interest and volume and exposes further side-lined trading in the very near term. In the meantime, the key 200-day SMA near the $2.600 region per MMBtu continues to hold the downside for the time being.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
