Natural Gas Futures: Door open to further decline
|CME Group’s advanced prints for natural gas futures markets noted open interest rose by around 1.5K contracts, adding to the previous daily build. Volume, instead, shrank by around 137.3K contracts after two consecutive daily upticks.
Natural gas faces interim support near $3.68
The ongoing moderate pullback in prices of natural gas seems to have further legs to go following Friday’s downtick against the backdrop of increasing open interest. That said, the commodity faces a minor support at the 50-day SMA near $3.68 per MMBtu.
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