Gas traders cut their net longs in natural gas – ING
Source Fxstreet
In natural gas, investment funds continued to cut their net long in the Title Transfer Facility (TTF) over the last week, ING's commodity experts Ewa Manthey and Warren Patterson note.
Investment funds have the smallest net long held since May 2024
"In natural gas, investment funds continued to cut their net long in the Title Transfer Facility (TTF) over the last week, selling 48.1TWh, leaving them with a net long of 126.7TWh. That’s the smallest net long held since May 2024."
"The move over the last week was driven by fresh shorts entering the market, rather than longs liquidating."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Gold selling pressure persists as traders lock in profits ahead of US NFP reportGold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Silver (XAG/USD) is trading lower in an otherwise calm market session on Thursday.
BTC holds above $90,000, ETH hovers near $3,128 at the 50-day EMA, and XRP steadies above $2.07 as traders weigh rebound targets and key downside levels.
Bitcoin's recovery is in jeopardy with bearish predictions dominating sentiment as traders cite ongoing resistance and technical patterns hinting at further declines.
