Natural Gas Futures: Extra range bound on the cards
|In light of advanced figures from CME Group for natural gas futures markets noted open interest shrank for the fifth consecutive daily pullback on Thursday, this time by around 8.5K contracts. Volume followed suit and went down for the fourth straight session, now by around 45.5K contracts.
Natural Gas: Recovery targets the $6.00 mark
Thursday’s inconclusive price action in natural gas was in tandem with diminishing open interest and volume, leaving room for further consolidation in the very near term. In the meantime, further recovery in the commodity now targets the $6.00 mark per MMBtu.
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