Natural Gas Futures: Correction in the offing?
|In light of advanced readings for Natural Gas futures markets, open interest shrunk for the second session in a row on Tuesday, this time by around 10.5K contracts. Volume followed suit and went down by around 333.3K contracts.
Natural Gas targets the 2020 high
Prices of Natural Gas kept advancing on Tuesday, although this time against the backdrop of shrinking open interest and volume. That said, while a test of yearly peaks ($2.261 per MMBtu) appears just around the corner, a correction lower is also expected in light of the recent strong gains and the current overbought levels.
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