Natural Gas Futures: Downside seen short-lived
|Traders scaled back their open interest positions by around 17.5K contracts on Tuesday, the largest single-day drop so far this year, all in light of preliminary readings from CME Group. On the flip side, volume increased for the second consecutive session, this time by almost 7K contracts.
Natural gas stays capped around $4.20… for now
Prices of natural gas closed with losses on Wednesday for the first time after seven sessions in a row. The downtick came in tandem with shrinking open interest, hinting at the view that a sustained decline is not favoured in the very near term.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.